Celldex Therapeutics (CLDX) Target Raised to $39 at Cantor

September 24, 2013 10:45 AM EDT
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Price: $23.55 -0.04%

Rating Summary:
    6 Buy, 5 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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Cantor Fitzgerald maintained a Buy rating on Celldex Therapeutics (NASDAQ: CLDX) and raised its price target to $39.00 (from $24.00). Analyst Mara Goldstein sees continued valuation expansion.

"We like Celldex's pipeline and the opportunity for continued valuation expansion based on catalyst events expected before year end, which drives our overall enthusiasm for the shares. Using a risk-adjusted revenue calculation of each candidate, plus the value of the firm's technology, early-stage assets and cash, we see upside to $39 per share. However, we note that depending on the level of risk/discount and multiple applied, a higher or lower valuation may be achieved," said Goldstein.

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 $32.68 yesterday.

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