Jefferies Starts Celldex Therapeutics (CLDX) at Buy

Jefferies initiates coverage on Celldex Therapeutics (NASDAQ: CLDX) with a Buy rating and $4 price target.

The firm comments, "Despite having a Phase III brain cancer drug and a catalyst-rich pipeline, CLDX shares are underappreciated. We believe the protracted timeline for rindopepimut has overshadowed its favorable prospects as a cancer vaccine with potential survival benefits. Phase II data flow in 2nd-line/+ brain cancer over the next 12-18 mos could improve visibility and drive upside, and other drug candidates could maintain newsflow."

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 $2.81 yesterday, with a 52 week range of $2.05-$4.70.

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