Cantor Fitzgerald Starts Celldex Therapeutics (CLDX) at Buy; Valuation Not Reflecting Depth

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Cantor Fitzgerald initiates coverage on Celldex Therapeutics (NASDAQ: CLDX) with a Buy. PT $7.00.

Analyst, Mara Goldstein, said, "We find the pipeline compelling, and, in our view, the company's valuation does not reflect the depth of the pipeline, which includes multiple clinical candidates in all phases (I-III) of human clinical trials."

"The market's skepticism around therapeutic cancer vaccines has weighed heavily on Celldex's valuation, as has Pfizer's (NYSE: PFE) 2010 strategic decision to return product rights. However, Celldex is more than just rindopepimut, and the company's technological platform is reminiscent of others' earlier platform plays in the immunotherapy/antibody space."

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 $5.08 yesterday, with a 52 week range of $2.05-$5.66.

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