Celldex climbs after Barclays' double upgrade

Celldex Therapeutics

20/04/2026 13:10

** Shares of drug developer Celldex Therapeutics CLDX.O climb 4% to $35.95 premarket

** Barclays upgrades the stock to "overweight" from "underweight"; hikes PT to $45 from $24

** New PT represents a 30.2% upside to stock's last close

** Brokerage says clinical trial of co's drug barzolvolimab's filled up with patients six months ahead of schedule, "which at a minimum speaks to the demand and enthusiasm for the asset"

** Barzolvolimab is being developed as a treatment for chronic spontaneous urticaria (CSU), a skin condition causing chronic hives

** Barclays raises probability of success estimate for Barzolvolimab to 85% from 65% and projects $1.4 billion in peak sales, with additional revenue potential from expanded indications in related conditions

** As of last close, CLDX up 27.2% YTD

(Reporting by Ragini Mathur in Bengaluru)

((Ragini.Mathur@thomsonreuters.com;))