Goldman Sachs initiated coverage of Celldex with a Neutral rating and $45 price target. The firm says barzolvolimab’s on-target neutropenia, hair discoloration, and other side effects could affect utilization by many patients and clinicians. In addition, potential approvals for Xolair biosimilars, Dupixent, and remibrutinib in the next two years will likely confine barzolvolimab exclusively to second-line, which is a smaller opportunity than Celldex projected, the analyst tells investors in a research note.
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