Roth Capital Maintains Buy On Celldex Following Initiation Of CDX-011 Phase II Study
Roth Capital analyst Joseph Pantginis maintained a Buy rating on Celldex Therapeutics (NASDAQ:CLDX) with a $43 price target, as the company announced the initiation of a Phase II open-label study of glembatumumab vedotin (CDX-011) in patients with unresectable stage III or IV melanoma.
Pantginis noted, “Following the recent positive OS data from ReACT, we believe this progress with CLDX’s other main asset should further increase visibility and partnering potential for the company as the METRIC study in TNBC continues enrollment.”
The analyst added, “We believe CLDX is solidifying its position as a premier cancer immunotherapy company with a broad pipeline and partnering potential.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -0.6% and a 47.8% success rate. Pantginis has a 22.6% average return when recommending CLDX, and is ranked #2711 out of 3395 analysts.