Barclays Lifts PT on Celldex Therapeutics (CLDX) to $24 From $21

Celldex Therapeutics, Inc. (NASDAQ:CLDX) is one of the best small cap stocks to buy with huge upside potential. Barclays lifted the price target on Celldex Therapeutics, Inc. (NASDAQ:CLDX) to $24 from $21 on December 17 and reaffirmed an Equal Weight rating on the stock. The firm told investors that it adjusted the price targets in the biotechnology space to take into account its 2026 outlook.

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In a separate development, Celldex Therapeutics, Inc. (NASDAQ:CLDX) announced on December 9 that it initiated the global Phase 3 trial (EMBARQ-ColdU and SD) designed to evaluate the efficacy and safety of barzolvolimab in adult patients with cold urticaria (ColdU) and symptomatic dermographism (SD) who remain symptomatic despite H1 antihistamine treatment. Barzolvolimab is a humanized monoclonal antibody.

ColdU and SD are characterized by the presence of wheals or hives with an attributable associated trigger: rubbing/scratching the skin in SD and exposure to cold temperatures in ColdU. Management stated that advanced approved therapies to treat SD and ColdU do not exist, making barzolvolimab the only drug in development that exhibits clinical benefit in patients living with the conditions in a randomized, large, placebo-controlled study, with all primary and secondary endpoints met with high statistical significance at 12 weeks and sustained through end of treatment period (20 weeks) in Phase 2 study.

Management further reported that the initiation of the EMBARQ-ColdU and SD marks the second barzolvolimab Phase 3 program, with Phase 3 in CSU ongoing.

Celldex Therapeutics, Inc. (NASDAQ:CLDX) develops, manufactures, and commercializes novel therapeutics for human health care. The company’s pipeline includes Varlilumab, CDX-1140, CDX-301, and CDX-3379.

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Disclosure: None. This article is originally published at Insider Monkey.