Celldex Receives a Buy from WBB Securities

By Ryan Adsit

WBB Securities analyst Stephen Brozak reiterated a Buy rating on Celldex (NASDAQ: CLDX) today and set a price target of $10. The company’s shares opened today at $2.90.

According to TipRanks.com, Brozak is a 4-star analyst with an average return of 18.4% and a 53.5% success rate. Brozak covers the Healthcare sector, focusing on stocks such as Cascadian Therapeutics, Sarepta Therapeutics, and Cidara Therapeutics.

Celldex has an analyst consensus of Strong Buy, with a price target consensus of $9.67.

Based on Celldex’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $3.92 million and GAAP net loss of $26.36 million. In comparison, last year the company earned revenue of $2.22 million and had a GAAP net loss of $29.6 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.