Analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Celldex and keeping the price target at $42.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors related to Celldex’s promising clinical data for its drug barzolvolimab (barzo) in treating Chronic Spontaneous Urticaria (CSU). The recent Phase 2 study results presented at EADV ’25 demonstrated that barzo is effective in CSU patients regardless of their IgE levels, which is a significant finding as it suggests the drug’s broad applicability across different patient subgroups.
The efficacy of barzo was consistent across both low and high IgE level patients, with improvements in disease control metrics such as UAS7 and UCT7 scores observed at weeks 12 and 52. This reinforces the drug’s novel mechanism of action targeting mast cells, which are crucial in CSU pathophysiology. The ability of barzo to address multiple CSU endotypes enhances its differentiation from competitors, potentially increasing its market opportunity and physician adoption upon approval.
In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $62.00 price target.