Stock Update (NASDAQ:CPXX): Celator Pharmaceuticals Inc Announces Proposed Public Offering Of Common Stock
Celator Pharmaceuticals Inc (NASDAQ:CPXX), a pharmaceutical company developing new and more effective therapies to treat cancer, today announced that it intends to offer and sell shares of its common stock in an underwritten public offering. This offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Stifel is acting as the sole bookrunning manager for the offering. Needham & Company, LLC is acting as the lead manager, and Roth Capital Partners, H.C. Wainright & Co. and National Securities Corporation are acting as co-managers for the offering. (Original Source)
Shares of Celator Pharmaceuticals are down nearly 3% in after-hours trading. CPXX has a 1-year high of $10.46 and a 1-year low of $1.12. The stock’s 50-day moving average is $2.75 and its 200-day moving average is $2.01.
On the ratings front, Roth Capital analyst Joseph Pantginis maintained a Buy rating on CPXX, with a price target of $22, in a report released today. The current price target implies an upside of 123.8% from current levels. According to TipRanks.com, Pantginis has a total average return of -7.5%, a 32.4% success rate, and is ranked #3719 out of 3757 analysts.
Celator Pharmaceuticals Inc is a pharmaceutical company.