Why Celldex Therapeutics Blasted 13% Higher on Monday
Clinical-stage biotech Celldex Therapeutics (NASDAQ: CLDX) was a standout on the stock market Monday. The company's share price closed a sturdy 13% higher on the day, thanks to freshly published data from a clinical trial of a key pipeline drug. This rise was far steeper than the 0.2% bump posted by the bellwether S 500 index.
That morning, Celldex unveiled the results of a phase 2 study of barzolvolimab, a medication aimed at treating patients with moderate to severe chronic spontaneous urticaria (CSU) refractory to antihistamines.
The biotech reported that barzolvolimab achieved its primary efficacy endpoint in treating this form of urticaria (more commonly known as hives). It also achieved a statistically significant mean change from baseline to week 12 of the 208-participant trial when compared to a placebo.
Source Fool.com
Celldex Therapeutics Stock
Currently there is a rather positive sentiment for Celldex Therapeutics with 15 Buy predictions and 3 Sell predictions.
As a result the target price of 40 € shows a slightly positive potential of 18.87% compared to the current price of 33.65 € for Celldex Therapeutics.
