UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on Celldex Therapeutics

In a report published Friday, Jefferies & Company reiterated its Buy rating on Celldex Therapeutics

, and slightly raised its price target from $6.00 to $7.00. Jefferies noted, “CLDX released an incremental pipeline update w/ focus on more mature data from CDX-011 EMERGE trial scheduled for presentation at San Antonio Breast mtg on 12/8. We expect EMERGE dataset along w/ FDA end of PhII mtg at year-end should help to guide CDX-011's late-stage development strategy. We continue to maintain a Buy based on the company's pipeline potential.” Celldex Therapeutics closed on Thursday at $5.60.