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On Thursday, H.C. Wainwright analyst Joseph Pantginis adjusted the price target on Celldex Therapeutics (NASDAQ:CLDX) to $50.00, down from the previous $80.00, while maintaining a Buy rating on the stock. Currently trading at $19.52, the stock sits well below its 52-week high of $47.00. The revision follows Celldex’s first-quarter financial report, which disclosed earnings per share (EPS) of ($0.81). This figure fell short of both the firm’s estimate of ($0.73) and the consensus estimate of ($0.74). According to InvestingPro analysis, the company’s current market valuation appears fairly priced relative to its Fair Value.
Celldex closed the quarter with a substantial cash reserve of $673.3 million. According to company management, these funds are expected to adequately support all ongoing operations through the year 2027. InvestingPro data confirms strong financial health with a current ratio of 21.67, indicating robust liquidity. The company maintains more cash than debt on its balance sheet, which is crucial for its extensive clinical development program. The company’s lead candidate, barzolvolimab (barzo), is currently in the spotlight, with Celldex having commenced 2025 by presenting Phase 2 study data in chronic spontaneous urticaria (CSU) and chronic inducible urticaria (CIndU) at the AAAAI 2025 meeting. For deeper insights into Celldex’s development pipeline and financial outlook, investors can access comprehensive analysis through InvestingPro’s detailed research reports, which cover over 1,400 US stocks.
Looking ahead, Celldex is preparing to share additional data from its clinical trials at upcoming scientific congresses. The company anticipates presenting 76-week Phase 2 data from the CSU trial at the European Academy of Allergy and Clinical Immunology (EAACI) Congress in June 2025. Furthermore, 20-week treatment data from the Phase 2 CIndU study are expected to be released in the second half of 2025.
Celldex continues to progress with its clinical programs, notably enrolling participants in Phase 3 barzo studies, EMBARQ-CSU1 and EMBARQ-CSU2, which are designed to evaluate the safety and efficacy of barzo in adults with CSU who remain symptomatic despite H1 antihistamine treatment. Additionally, a global Phase 3 program for CIndU is slated to commence this year, and the company is also awaiting results from a fully enrolled Phase 2 study of barzo in eosinophilic esophagitis (EoE), expected later in the year.
In other recent news, Celldex Therapeutics has been the focus of several analyst reports and developments. H.C. Wainwright reaffirmed its Buy rating for Celldex, maintaining an $80 price target, following the company’s presentation at the American Academy of Allergy, Asthma, and Immunology. The presentation highlighted promising preclinical data on CDX-622, a bispecific antibody showing potential in reducing inflammation and fibrosis. Cantor Fitzgerald also maintained an Overweight rating with a $67 price target, emphasizing the significance of upcoming data on Eosinophilic Esophagitis (EoE) as a potential catalyst for Celldex. The firm noted the potential market opportunity for barzolvolimab, Celldex’s lead candidate, in treating EoE. Morgan Stanley (NYSE:MS) initiated coverage with an Overweight rating and a $46 price target, citing the promising efficacy profile of barzolvolimab in chronic urticaria and its potential in other mast cell-mediated diseases. Despite these positive ratings, concerns remain about side effects and competition in the urticaria drug market. Overall, these developments indicate a cautiously optimistic outlook from analysts regarding Celldex’s ongoing research and strategic direction.
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