UPDATE: Brean Capital Assumes Celldex Therapeutics (CLDX) at Buy
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(Updated - October 4, 2016 10:12 AM EDT)
Brean Capital assumed coverage on Celldex Therapeutics (NASDAQ: CLDX) with a Buy rating and a price target of $16.
"Our target price for CLDX is supported by a DCF analysis using a 15% discount rate and a 7 multiple of the terminal value for our projected 2024 EBITDA, based only on projected revenue from CDX-011 and CDX-1127 launching in 2019, among their current clinical indications," said analyst Jason Wittes.
Shares of Celldex Therapeutics closed at $4.00 yesterday.
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