Market Overview

UPDATE: Wedbush Raises PT to $20 on Celldex Therapeutics on Rindopepimut Outlook

Share:
Related CLDX
Why Cowen & Co Likes Celldex Therapeutics Following Its FDA 'Breakthrough'
Biotech Stocks Moving Higher
Seeking Alpha's Biotech Weekly: Achillion Overdone, Sanofi's Toujeo A Go, And More (Seeking Alpha)

Wedbush maintained Celldex Therapeutics (NASDAQ: CLDX) with an Outperform rating and raised the price target from $8.00 to $20.00.

Wedbush analyst Gregory R. Wade noted, "We are increasing our price target to $20 from $8 based upon revised launch and peak penetration assumptions as emerging data to suggest a more targeted clinical path for both for rindopepimut and CDX-011. We have increased our peak penetration rate and duration of therapy in the front-line setting for rindopepimut from 45% and 9 cycles to, 65% and 18 cycles, respectively. We now see worldwide peak sales of rindopepimut north of $1 billion."

Celldex Therapeutics closed at $11.89 on Monday.

Latest Ratings for CLDX

DateFirmActionFromTo
Sep 2014Cowen & CompanyInitiates Coverage onOutperform
Jul 2013Guggenheim SecuritiesInitiates Coverage onBuy
Jun 2013OppenheimerMaintainsOutperform

View More Analyst Ratings for CLDX
View the Latest Analyst Ratings

Posted-In: WedbushAnalyst Color Price Target Analyst Ratings

 

Related Articles (CLDX)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga PRO content