Jefferies Raises Price Target On Celldex Therapeutics (CLDX) 50%

Jefferies raised its price target on Celldex Therapeutics (NASDAQ: CLDX) 50% from $4 to $6 and reiterated its Buy rating following an Investor R&D Day yesterday to present the latest on its clinical pipeline.

The firm comments, "CDX-011 Ph 2b data (ORR and PFS) in salvage metastatic breast cancer could be presented at ASCO 2012. CLDX may choose to partner prior to Ph III or possibly file based on the robustness of the data. While Ph III data could be protracted, we have included CDX-011 sales on risk-adjusted basis to arrive at our $6 PT."

For an analyst ratings summary and ratings history on Celldex Therapeutics click here. For more ratings news on Celldex Therapeutics click here.

Shares of Celldex Therapeutics closed at $3.96 yesterday, with a 52 week range of $2.05-$4.70.

---

Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!

You May Also Be Interested In

• After-Hours Movers 05/23: (P) (HPQ) (PVH) Higher; (MNOV) (NTAP) (CLDX) Lower
• Auriga Reiterates a 'Buy' on DSW Inc. (DSW); Raising Estimates and PT After Great Q1
• Celldex Therapeutics (CLDX) Announces 'High Response' CDX-011 Trial Data

Create E-mail Alert Related Categories

Analyst Comments

Related Entities

Jefferies & Co

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?

Follow StreetInsider.com On Twitter