Celator Pharmaceuticals Inc (NASDAQ:CPXX) announced that it is cancelling its Analyst and Investor meeting scheduled for Saturday, June 4, 2016 at 7:00 p.m. CT and that the company’s board of directors has postponed its annual meeting of stockholders, previously scheduled for June 8, 2016. This follows the company’s announcement earlier today of a definitive agreement to be acquired by Jazz Pharmaceuticals plc.
Data from the Phase 3 clinical trial of VYXEOS™ is still scheduled to be presented at the ASCO Annual Meeting in Chicago on June 4, 2016 and at theEuropean Hematology Association (EHA) Annual Congress in Copenhagen on June 11, 2016. The ASCO abstracts became available at 5:00 p.m. ETon May 18, 2016 (abstracts.asco.org) and the EHA abstracts became available at 12:00 p.m. CET on May 19, 2016 (EHA Learning Center – Official eLearning Portal of the European Hematology Association ). (Original Source)
Shares of Celator closed today at $30.08, up $12.55 or 71.59%. CPXX has a 1-year high of $30.05 and a 1-year low of $1.12. The stock’s 50-day moving average is $15.13 and its 200-day moving average is $6.37.
On the ratings front, Celator has been the subject of a number of recent research reports. In a report released today, Roth Capital analyst Joseph Pantginis downgraded CPXX to Hold, with a price target of $30.25, which represents a slight upside potential from current levels. Separately, on the same day, Needham’s Chad Messer downgraded the stock to Hold .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joseph Pantginis and Chad Messer have a total average return of 0.2% and -10.6% respectively. Pantginis has a success rate of 37.7% and is ranked #2067 out of 3891 analysts, while Messer has a success rate of 32.4% and is ranked #3791.
Celator Pharmaceuticals, Inc. is a clinical-stage company, which engages in the research and development of biopharmaceutical products. It intends to provide chemotherapies and molecularly targeted agents to deliver anti-cancer activity and enhance treatment outcomes for cancer patients. It operates under the CombiPlex platform. Its products include VYXEOS, CPX-1, and CPX-8. The company was founded by Lawrence David Mayer and Marcel B. Bally in 1999 and is headquartered in Ewing, NJ.