Stifel Reiterates Buy Rating on Celldex Therapeutics (CLDX)

Stifel analyst Alex Thompson reiterated a Buy rating and $58.00 price target on Celldex Therapeutics (NASDAQ: CLDX).

The analyst commented, "Barzolvolimab failed to demonstrate a clinical efficacy signal in eosinophilic esophagitis (EoE) despite achieving clear mast cell depletion. CLDX won't pursue further development in EoE. For the stock, the key focus remains progress within CSU, particularly the ongoing 1800+ patient Ph3 program, where Barzolvolimab has demonstrated differentiated efficacy within a growing, strategicallyimportant space as a first-in-class asset. With the addition of a loading dose in the Ph3 (from Ph2), we think PoS is high, and management commentary on safety remains favorable--no anaphylaxis/hypersensitivity in the EoE Ph2 (higher dose), and we view no news around blinded Ph3 safety as good news. We include limited credit in our model beyond CSU and see little impact to our thesis from this failure (centered on CSU opportunity). Looking ahead, the company expects to complete enrollment in the CSU Ph3 in 2026, while progress remains ongoing in Ph2 studies within Atopic Dermatitis and Prurigo Nodularis."

For an analyst ratings summary and ratings history on Celldex Therapeutics click here. For more ratings news on Celldex Therapeutics click here.

Shares of Celldex Therapeutics closed at $24.02 yesterday.

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