Cantor Fitzgerald Sticks to Their Hold Rating for Celldex

By Jason Carr

In a report released yesterday, Mara Goldstein from Cantor Fitzgerald maintained a Hold rating on Celldex (NASDAQ: CLDX), with a price target of $3. The company’s shares closed yesterday at $0.76, close to its 52-week low of $0.76.

Goldstein commented:

“Glemba is a Miss. The METRIC trial evaluating metastatic TNBC patients that overexpress gpNMB versus capecitibine did not achieve statistical significance, with glemba-treated patients experiencing PFS of 2.7 months versus 2.6 months for capecitibine, p=0.76. Additionally, significance was not achieved for key secondary endpoints of OR (overall response), DoR (Duration of Response) or OS (Overall Survival).”

According to TipRanks.com, Goldstein is a 1-star analyst with an average return of -1.2% and a 37.7% success rate. Goldstein covers the Healthcare sector, focusing on stocks such as Corvus Pharmaceuticals Inc, Karyopharm Therapeutics, and CytomX Therapeutics Inc.

Currently, the analyst consensus on Celldex is Moderate Buy and the average price target is $2.83, representing a 271.9% upside.

In a report released yesterday, Cowen & Co. also downgraded the stock to Hold.

The company has a one-year high of $3.42 and a one-year low of $0.76. Currently, Celldex has an average volume of 1.85M.

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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.