Roth Capital Trims PT on Celldex (CLDX) to $39 Following Q2 Results; Would be Buyers on Weakness

Roth Capital trims its price target on Celldex Therapeutics (Nasdaq: CLDX) from $43 down to $39 following Q2 results issued after markets closed Monday.

Analyst Joseph Pantginis commented, The key point to the 2Q15 results call, which we believe will drive perception for the time being was a regulatory update regarding Rintega. Based on continuing meetings with the FDA ("active and significant") feedback is pointing to not being able to file a BLA for initial approval in the recurrent setting. The primary reason cited, which was the lead bear case, was not the strong data, but rather the small sample size (though statistically significant). The company is guiding toward filing for Rintega approval based on the totality of data from ACT IV and ReACT and coverage of both front-line and recurrent patients.

However, we would take advantage of any weakness as the impact from an NPV standpoint is only modest and the fundamental story remains unchanged.

Roth rates Celldex at Buy.

For an analyst ratings summary and ratings history on Celldex Therapeutics click here. For more ratings news on Celldex Therapeutics click here.

You May Also Be Interested In

• JPMorgan Downgrades Tata Technologies (TATATECH:IN) to Underweight
• RBC Capital Starts Northview Residential REIT (NRR-U:CN) at Sector Perform
• Morgan Stanley Upgrades Global Unichip Corp (3443:TT) to Overweight