Market Overview

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

Share:
Related CLDX
Benzinga's Daily Biotech Pulse: FDA Greenlights Tandem Diabetes' Insulin Pump, More IPOs On Tap
Benzinga's Daily Biotech Pulse: Organovo Falls On Earnings; Celgene Gets New CFO
What Does Breakthrough Therapy Designation Really Mean For My Company? (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
Apr 2018Cantor FitzgeraldDowngradesOverweightNeutral
Apr 2018Cantor FitzgeraldMaintainsNeutralNeutral
Mar 2018Leerink SwannMaintainsMarket PerformMarket Perform

View More Analyst Ratings for CLDX
View the Latest Analyst Ratings

Posted-In: WedbushAnalyst Color Price Target Analyst Ratings

 

Related Articles (CLDX)

View Comments and Join the Discussion!