Cowen & Co. Keeps Their Buy Rating on Celldex

By Carrie Williams

In a report released today, Boris Peaker from Cowen & Co. reiterated a Buy rating on Celldex (NASDAQ: CLDX). The company’s shares opened today at $2.72, close to its 52-week low of $2.37.

Peaker wrote:

“At ASCO updates on varli and glemba were provided.”

According to TipRanks.com, Peaker is a 2-star analyst with an average return of 0.7% and a 38.5% success rate. Peaker covers the Healthcare sector, focusing on stocks such as Madrigal Pharmaceuticals Inc, Corvus Pharmaceuticals Inc, and Merrimack Pharmaceuticals.

Celldex has an analyst consensus of Strong Buy, with a price target consensus of $6.17.

Based on Celldex’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.53 million and GAAP net loss of $34.26 million. In comparison, last year the company earned revenue of $1.3 million and had a GAAP net loss of $34.67 million.

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Celldex Therapeutics, Inc. engages in the research, development, and manufacture of biopharmaceutical products. Its portfolio includes therapeutic antibodies, antibody drug conjugates, vaccines, and immune system modulators. The company’s drug candidates include Glembatumumab vedotin, Varlilumab, CDX-1401, CDX-301, and Rintega. Celldex Therapeutics was founded by Anthony S. Marucci and Tibor Keler in 1983 and is headquartered in Hampton, NJ.