** Morgan Stanley stars coverage on Celldex Therapeutics CLDX.O with "overweight" rating and PT of $46, citing the co's "pipeline potential in alternative mast cell-mediated diseases" and a "risk/reward that is skewed to the upside"
** PT represents a 130.7% upside to stock's last close
** Says co's lead skin disease drug, barzolvolimab, has shown a "potentially market-leading efficacy profile" in chronic urticaria, a condition with "significant unmet need" and limited treatment options
** Expects barzolvolimab to generate $1.3 bln in risk-adjusted revenue by 2035, modestly below consensus estimates, due to competition from other therapies
** Despite competition, barzolvolimab has a "unique ability to deplete mast cells", which could give it an edge in treating most cell-mediated diseases - brokerage
** CLDX fell 50.7% in the last 12 months
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.