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Celldex cuts price target after halting Phase 2 trial for key drug due to efficacy failure.

Analyst Insights
22 Jul 2026
Danny Green
View Source
Bearish
pluang ai news

Celldex Therapeutics lowered its price target from $67 to $61 after stopping its Phase 2 trial for barzolvolimab, a drug for prurigo nodularis, because it failed to meet primary efficacy goals. Despite this setback, the drug showed a strong safety profile, and Celldex has other Phase 3 trials ongoing with results expected in late 2026. The adjusted price target still suggests significant upside potential, reflecting optimism about the company's future growth prospects.

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