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UPDATE: Oppenheimer Raises PT to $10 on Celldex Therapeutics on Improved Approval Outlook


Oppenheimer reiterated its Outperform rating on Celldex Therapeutics (NASDAQ: CLDX) and raised its price target from $8 to $10.

Oppenheimer noted, "Final data from the Phase IIb (EMERGE) of CDX-011 in metastatic breast cancer (BC) were presented this weekend. CDX-011 was well tolerated and the response rate in triple negative BC was 19% compared to 0% for the investigator's choice (IC) arm. High GPNMB expressing tumors had a CDX-011 response rate of 32% vs. 13% for IC. Although EMERGE was not designed to show overall survival (OS), there was a trend toward OS across all patients. The high GPNMB expressing triple negative subgroup achieved statistically significant improvement in PFS and OS."

Celldex Therapeutics closed at $5.52 on Friday.

Latest Ratings for CLDX

Feb 2021HC Wainwright & Co.MaintainsBuy
Oct 2020HC Wainwright & Co.MaintainsBuy
Mar 2020H.C. WainwrightReiteratesBuy

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