Celldex Therapeutics, Inc. (NASDAQ:CLDX) announced that an independent Data Safety and Monitoring Board (DSMB) recommended continuation of the Phase 3 ACT IV study of RINTEGA® (rindopepimut) in patients with newly diagnosed glioblastoma.

The ACT IV study is a randomized, double-blind, placebo controlled study of rindopepimut plus GM-CSF added to standard of care temozolomide in patients with newly diagnosed, surgically resected, EGFRvIII-positive glioblastoma. 745 patients were enrolled into ACT IV to reach the required 374 patients with minimal residual disease (assessed by central review) needed for analysis of the primary overall survival endpoint. All patients, including those with disease that exceed this threshold, will be included in a secondary analysis of overall survival as well as analyses of progression-free survival, safety and tolerability, and quality of life. The timing of the overall survival primary endpoint data is event-driven. Interim analyses assessing safety, futility and efficacy conducted by an independent DSMB were prespecified at 50 percent and 75 percent of events. (Original Source)

Shares of Celldex Therapeutics closed last Friday at $25.03 . CLDX has a 1-year high of $32.82 and a 1-year low of $11.93. The stock’s 50-day moving average is $26.37 and its 200-day moving average is $24.45.

On the ratings front, Celldex Therapeutics has been the subject of a number of recent research reports. In a report issued on June 1, WBB analyst Stephen Brozak reiterated a Buy rating on CLDX, with a price target of $40, which represents a potential upside of 59.8% from where the stock is currently trading. Separately, on the same day, Cowen’s Boris Peaker reiterated a Buy rating on the stock and has a price target of $34.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Stephen Brozak and Boris Peaker have a total average return of 42.8% and 35.0% respectively. Brozak has a success rate of 58.3% and is ranked #435 out of 3681 analysts, while Peaker has a success rate of 59.1% and is ranked #37.

The street is mostly Bullish on CLDX stock. Out of 5 analysts who cover the stock, 5 suggest a Buy rating . The 12-month average price target assigned to the stock is $38.00, which implies an upside of 51.8% from current levels.

Celldex Therapeutics Inc is a biopharmaceutical company. The Company is engaged in the development, manufacturing and commercialization of immunotherapy technologies for the treatment of cancer and other difficult-to-treat diseases.