CLDX Morgan Stanley raised the firm's price target on Celldex to $57 from $50 and keeps an Overweight rating on the shares. Barzolvolimab demonstrated best-in-disease efficacy in EMBARQ-CSU, while its safety proved to be "the primary source of debate," the analyst tells investors. Management sees a black box warning as unlikely, says the analyst, who believes the safety profile remains "manageable" and continues to see "a blockbuster opportunity in chronic urticaria."