Microsoft sued by Australia competition regulator over Copilot, 365 pricing
Investing.com - Mizuho initiated coverage on Celldex Therapeutics (NASDAQ:CLDX) with an Outperform rating and a $48.00 price target on Monday. The stock, currently trading near its 52-week high of $29.38, has shown strong momentum with a 46.61% return over the past six months.
The research firm highlighted barzovolimab, Celldex’s anti-KIT monoclonal antibody, as positioned to play a significant role in mast-cell mediated diseases, particularly chronic urticaria. With a market capitalization of $1.83 billion, the company maintains a strong financial position, holding more cash than debt on its balance sheet.
Mizuho believes barzovolimab has potential to establish best-in-class efficacy among competitors, offering deep and sustained clinical benefits. The firm’s probability modeling suggests high likelihood of statistical success in ongoing Phase III trials for all patients and the important subgroup of omalizumab-experienced patients.
The research firm projects $2.6 billion in risk-adjusted 2035 worldwide sales for barzovolimab in chronic urticaria.
Mizuho expects positive Phase III data and potential indication expansion to drive outperformance for Celldex Therapeutics .
In other recent news, Celldex Therapeutics reported new data highlighting the strong efficacy of its experimental drug, barzolvolimab, in treating chronic spontaneous urticaria (CSU) regardless of patients’ baseline immunoglobulin E (IgE) levels. This development suggests the potential for barzolvolimab to treat all CSU patients, irrespective of their disease subtype. Despite this positive outcome, the drug failed to demonstrate clinical efficacy in a trial for eosinophilic esophagitis (EoE), leading Celldex to halt further development for this condition. Stifel has maintained a Buy rating on Celldex, with a price target of $58.00, despite the EoE setback. Cantor Fitzgerald also continues to hold an Overweight rating with a $67.00 price target, even after the negative EoE trial results. Meanwhile, Barclays initiated coverage on Celldex with an Underweight rating, citing limited upside potential through 2026. Conversely, H.C. Wainwright reiterated its Buy rating with a $42.00 price target following the FDA approval of Novartis’s remibrutinib for CSU, which may impact the competitive landscape for Celldex’s barzolvolimab. These recent developments provide a mixed outlook for Celldex Therapeutics as it navigates its clinical trial outcomes and market positioning.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.