Celldex Therapeutics: A Strong Buy on Impressive Barzolvolimab Results and Promising Pipeline

Celldex (CLDX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on May 6. Analyst Thomas Smith from Leerink Partners reiterated a Buy rating on the stock and has a $78.00 price target.

Thomas Smith has given his Buy rating due to a combination of factors that position Celldex Therapeutics (CLDX) favorably in the market. The company’s lead asset, barzolvolimab (barzo), has shown compelling results in treating chronic spontaneous urticaria (CSU), evidenced by data presented at a recent conference. This data supports barzo’s efficacy and safety, and the anticipation of long-term data expected in the second half of 2024 could further establish the drug’s sustained effectiveness and safety profile. Additionally, Celldex’s progress with barzo extends into other potential treatments, including prurigo nodularis and eosinophilic esophagitis, with new developments into atopic dermatitis signaling an accelerated timeline for further clinical trials.

Furthermore, Smith believes that barzo’s unique mechanism of action, which depletes mast cells, could offer a best-in-class therapeutic option and unlock substantial commercial opportunities in various mast cell-driven diseases. The company’s active pipeline, including the advancement of other assets like the bispecific ILT4/PD-1 antibody and the planned submission of an IND for a preclinical bispecific SCF/TSLP antibody, underscores a robust research and development trajectory. With multiple significant milestones anticipated in the latter half of 2024, Smith’s recommendation reflects confidence in Celldex’s continued on-track development and potential for market impact, making it one of Leerink Partners’ Top Picks for the year.

Smith covers the Healthcare sector, focusing on stocks such as Alpine Immune Sciences, Celldex, and Viking Therapeutics. According to TipRanks, Smith has an average return of 38.1% and a 45.68% success rate on recommended stocks.

In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $80.00 price target.

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Celldex (CLDX) Company Description:

Celldex Therapeutics, Inc. engages in the research, development, and commercialization of immunotherapies and other targeted biologics. Its drug candidates have the ability to engage the human immune system and directly inhibit tumors to treat specific types of cancer and other diseases. Its pipeline includes Varlilumab, CDX-1140, and CDX-301, and CDX-3379. The company was founded by Anthony S. Marucci and Tibor Keler in 1983 and is headquartered in Hampton, NJ.