Celldex initiated with an Outperform at TD Cowen

TD Cowen initiated coverage of Celldex with an Outperform rating and no price target. Celldex’s lead asset, barzolvolimab, addresses a significant unmet need in chronic urticaria, or CU, and has “blockbuster potential” in that indication and chronic inducible urticaria, or CIndU, the analyst tells investors. Success in other mast-cell driven diseases, like prurigo nodularis and eosinophilic esophagitis, could provide “meaningful upside,” the analyst added.