Celldex: Merck’s Immune Checkpoint Inhibitor Doesn’t Threat Glemba, Says Cowen
In a research report issued today, Cowen analyst Boris Peaker reiterated an Outperform rating on Celldex Therapeutics (NASDAQ:CLDX) with a $26 price target. The report follows the news that Merck’s PD-1 inhibitor Keytruda has shown promise in advanced triple-negative breast cancer.
Peaker noted, “Merck released data today from a Phase I study of their immune checkpoint inhibitor pembrolizumab in TNBC. While the data suggests pembro has clinical activity in this setting, we see the use of immunotherapy in TNBC as no threat to CLDX’s glemba and its chances of success.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Boris Peaker has a total average return of 28.9% and a 67.4% success rate. Peaker has a -1.4% average return when recommending CLDX, and is ranked #95 out of 3401 analysts.