In a report released on March 2, Thomas Smith from Leerink Partners maintained a Buy rating on Celldex (CLDX – Research Report), with a price target of $78.00.
Thomas Smith has given his Buy rating due to a combination of factors that highlight the promising potential of Celldex’s lead asset, barzolvolimab. The recent presentation at the AAAAI conference showcased new efficacy and quality-of-life data from Phase 2 trials, demonstrating significant and sustained improvements in patients with chronic urticarias. Notably, up to 82% of patients achieved well-controlled urticaria, and nearly all experienced meaningful enhancements in their quality of life after 52 weeks of treatment.
Furthermore, the data from the chronic inducible urticaria trial revealed that a substantial portion of patients reported minimal impact on their quality of life after just 12 weeks. With the ongoing enrollment in the Phase 3 EMBARQ program and plans to initiate further trials, Celldex is positioned ahead of its competitors. The unique mechanism of action and the compelling clinical profile of barzolvolimab underscore its potential as a first-in-class and best-in-class treatment, justifying the Buy rating.
In another report released on March 3, H.C. Wainwright also maintained a Buy rating on the stock with a $80.00 price target.
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