Canaccord Genuity maintains Celldex Therapeutics at Buy, raises price target to $68 from $60

Celldex Therapeutics reported no revenue and a widened net loss of $75.56M for Q3 2026, driven by increased R&D and administrative expenses. The company's barzolvolimab drug showed positive results in Phase 3 studies for CSU, with a BLA submission expected in 2027. R&D expenses rose 7% to $67.4M, primarily for barzolvolimab development.

Celldex Therapeutics, Inc. (CLDX) filed an SEC Form 8-K — Results of Operations and Financial Condition. EXHIBIT 99.1 Celldex Reports Third Quarter Financial Results and Provides Corporate Update Best-in-disease results from Phase 3 EMBARQ-CSU1 and EMBARQ-CSU2 studies showed rapid, profound, sustained efficacy supporting barzolvolimab’s potential to be a transformational therapy in

Celldex's barzolvolimab for chronic urticaria showed low anaphylaxis risk, with no black box expected, but stock reacted negatively. Amgen's dazodalibep for Sjögren's showed positive Phase 3 results, targeting a $25B market. Biotech stocks face sentiment challenges despite positive data.

Guggenheim's biotech rankings place Celldex Therapeutics (CLDX) at the top due to positive Phase III trial results for barzovolimab in treating chronic spontaneous urticaria. The drug showed strong efficacy and a low rate of severe anaphylaxis. CLDX recently discontinued a prurigo nodularis study after it failed to meet endpoints. Analysts have mixed price target adjustments.

Celldex Therapeutics (CLDX) reported positive Phase 3 trial results for barzolvolimab in chronic spontaneous urticaria, meeting all primary and secondary endpoints. The drug showed significant efficacy, with a majority of patients achieving complete symptom relief. However, the company faces high R&D costs and a 2027 expected BLA filing. CLDX has $717.6M in cash and a pipeline of other studies, but a recent Phase 2 failure in prurigo nodularis highlights risks.

Celldex Therapeutics (CLDX) stock fell 10.4% after Phase 3 trial results for barzolvolimab met primary and secondary endpoints but showed smaller efficacy gains than Phase 2. Analysts maintained positive ratings and price targets. The broader market had minimal impact, highlighting the company-specific move.