Celldex Therapeutics, Inc. (NASDAQ:CLDX) announced that the Company has promoted Elizabeth Crowley to the newly created position of Senior Vice President, Chief Product Development Officer. Ms. Crowley was previously Senior Vice President of Product Development of Celldex and brings almost 25 years of industry experience where she was responsible for leading the execution of multiple successful drug development programs.
“Celldex was founded on the belief that combination regimens designed to unlock the power of the immune system would deliver the greatest benefit to the largest population of patients,” said Anthony Marucci, Co-founder, President and Chief Executive Officer of Celldex Therapeutics. “This newly created position is a direct response to the future of portfolio planning and drug development in the immuno-oncology field where we believe multi-drug combination regimens will become the norm and the development programs to explore these opportunities will become increasingly complex. Beth’s deep, oncology-focused experience in strategic planning, portfolio management and implementation have played a critical role in building the depth and breadth of our pipeline to date and an exceptional development operations team here at Celldex. We look forward to her continued expertise in this expanded leadership role.”
“Celldex has thoughtfully seeded a pipeline with individual product candidates that uniquely manipulate the immune system at key points,” said Ms. Crowley. “With successful proof of concept work achieved, we have now entered the next phase of development and are extensively exploring multi-drug combination regimens. I look forward to working closely with my Celldex colleagues across the organization as we expand this approach in our ongoing efforts to improve outcomes for patients and their families.”
Ms. Crowley joined Celldex in 2009 as Vice President, Clinical Development. Prior to that, she held several senior level roles at CuraGen Corporation, most recently serving as the Vice President of Development Operations, responsible for strategic and operational development activities of the oncology and oncology supportive care portfolio, regulatory affairs, clinical operations and data management. Ms. Crowley started her career at Bayer Corporation in 1992, holding various positions providing leadership of clinical research and project management prior to completing her tenure there as the Director of Global Study Audit Management, assuring the highest standards for program execution. Ms. Crowley received her BS in Chemistry with a concentration in Business from Boston College. (Original Source)
Shares of Celldex closed yesterday at $4.5, down $0.18 or -3.85%. CLDX has a 1-year high of $18.62 and a 1-year low of $2.96. The stock’s 50-day moving average is $4.57 and its 200-day moving average is $4.94.
On the ratings front, Celldex has been the subject of a number of recent research reports. In a report issued on August 9, Jefferies Co. analyst Biren Amin reiterated a Hold rating on CLDX, with a price target of $5, which represents a potential upside of 11.1% from where the stock is currently trading. Separately, on the same day, Brean Murray Carret’s Jonathan Aschoff reiterated a Buy rating on the stock and has a price target of $16.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Biren Amin and Jonathan Aschoff have a total average return of 8.6% and -10.6% respectively. Amin has a success rate of 56.7% and is ranked #345 out of 4110 analysts, while Aschoff has a success rate of 35.9% and is ranked #4001.
The street is mostly Bullish on CLDX stock. Out of 4 analysts who cover the stock, 3 suggest a Buy rating and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $8.50, which represents a potential upside of 88.9% from where the stock is currently trading.
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. Its drug candidates include Glembatumumab vedotin, Varlilumab, CDX-1401, CDX-301, and Rintega.