Roth Capital Lifts PT on Celldex (CLDX) to $43 Following Phase 2 ReACT Presentation

Roth Capital boosts its price target on Celldex Therapeutics (Nasdaq; CLD) from $40 up to $43 and affirms its Buy rating after the company offered statistically significant data from Phase 2 ReACT study of rindopepimut in EGFRvIII-positive glioblastoma (GBM) at SNO last week.

Analyst Joseph Pantginis comented, We are very impressed with the overall survival data in the bevacizumab-naive patients, especially that rindo represents the first true indication of a survival benefit in this indication. Recall that Avastin (bevacizumab) was approved on response rate previously and has not shown a survival benefit. Rindo has been somewhat on the sidelines of investor focus, in our belief, based on the wait for ACT IV data. These ReACT data should change this quickly. In our belief, rindo could represent the second cancer vaccine approved in the U.S. following the commercial failure of Dendreon's (DNDN-Sell) Provenge.

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

Celldex Therapeutics closed at $14.16 yesterday.

You May Also Be Interested In

• Merck (MRK) PT Raised to $143 at Truist Securities
• Acrivon Therapeutics Inc (ACRV) PT Lowered to $22 at Jones Trading
• Teradyne (TER) PT Raised to $125 at TD Cowen