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Oppenheimer raises price target on CLDX to $10


Celldex Therapeutics PT Raised to $10.00 at Oppenheimer (CLDX)

Posted by Tammy Falkenburg on Dec 12th, 2012 // No Comments

Celldex Therapeutics Inc logoCelldex Therapeutics (NASDAQ: CLDX) had its price target lifted by Oppenheimer to $10.00 in a research report released on Monday morning.

“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.,” the firm’s analyst wrote.

Shares of Celldex Therapeutics traded up 0.29% during mid-day trading on Monday, hitting $6.90. Celldex Therapeutics has a one year low of $2.53 and a one year high of $7.20. The company’s market cap is $427.6 million


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