Celldex (CLDX) Stock Rises on Wolfe Research Upgrade

Analyst Upgrade Lifts Celldex Shares

Celldex Therapeutics Inc. (NASDAQ:CLDX) shares increased by 4.6% after Wolfe Research upgraded the stock from Underperform to Outperform. The firm also established a price target of $44.00, signaling renewed confidence in the biopharmaceutical company's future performance.

Market Performance and Catalysts

The upgrade follows a period where the stock's performance did not reflect positive news. However, an analyst noted improved stock reactivity, evidenced by a 24% gain on February 25 after a trial enrollment announcement. Upcoming data for its prurigo treatment, expected in summer 2026, is identified as a significant positive catalyst for the stock.

Strategic Outlook for Barzolvolimab

Wolfe Research highlighted the potential of Celldex's drug, barzolvolimab, which compares favorably against competitors on multiple efficacy measures. The firm views the product as a potential $2 billion-plus asset and considers Celldex severely undervalued. A positive Phase 3 result in the fourth quarter is seen as highly likely and expected to lead to approval.

Summary and Forward Look

The combination of improved investor response to news, upcoming data releases, and a strong drug pipeline creates a more comfortable risk-reward profile. Investors will be closely watching for the Phase 3 chronic spontaneous urticaria results expected around the end of the year.

FAQ

Q: Why did Wolfe Research upgrade Celldex stock?
A: Wolfe Research cited a better catalyst setup for 2026, improved stock reactivity, and a favorable risk-reward profile for its drug barzolvolimab.

Q: What is the new price target for CLDX stock?
A: The new price target set by Wolfe Research is $44.00.

Source: Investing.com