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

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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

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Posted-In: WedbushAnalyst Color Price Target Analyst Ratings

 

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