UPDATE: Oppenheimer Raises PT on Celldex Therapeutics on Key Clinical Milestones, Associated Trials Anticipated In 2H13
In a report published on Friday, Oppenheimer analyst Boris Peaker raised the price target on Celldex Therapeutics (NASDAQ: CLDX) from $14 to $16 and reiterated a rating of Outperform on the company.
In the report, Oppenheimer stated, "We believe that investors will be focused on the Rindo studies in brain cancer as well as initial data for CDX-1135 and CDX-1127. Additionally, we performed further due diligence on CDX-1135 and we are adding this compound to our valuation. This is the basis for our price target increase of $2/share (from $14 to $16)."
Celldex Therapeutics closed on Thursday at $14.29.
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