Analyst Judah Frommer from Morgan Stanley maintained a Buy rating on Celldex and keeping the price target at $43.00.
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Judah Frommer has given his Buy rating due to a combination of factors surrounding Celldex’s promising developments with their CDX-622 antibody. The initial single ascending dose (SAD) data for CDX-622 in healthy volunteers demonstrated a favorable safety profile, with no dose-limiting toxicities or serious adverse events reported. Additionally, the pharmacokinetics of CDX-622 showed a promising serum half-life and no presence of anti-drug antibodies, which are positive indicators for the drug’s potential efficacy.
Furthermore, the study revealed a significant reduction in serum tryptase, suggesting effective mast cell depletion, which is a key mechanism for treating inflammatory conditions. Looking ahead, Celldex plans to initiate a Phase 1b study in 2026 to explore the drug’s impact on asthma, targeting biomarkers such as TSLP and SCF. The potential for CDX-622 to address disorders characterized by these biomarkers supports the optimistic outlook and the Buy rating provided by Frommer.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $42.00 price target.