Company

Bank

Analyst

Coverage

Opinion

Wk chg

3/9 cls

Celldex Therapeutics Inc. (NASDAQ:CLDX)

Roth Capital Partners

Joseph Pantginis

Price target

Buy

3%

$3.90

Pantginis raised his target to $9 from $6 ahead of data from the Phase IIb EMERGE trial with CDX-011 in metastatic breast cancer at the American Society of Clinical Oncology meeting in June. Pantiginis also believes that the company's cash position will enable "fast paced pipeline progress." Celldex reported that it has sufficient cash to fund operations through 2014, with $53.3M as of Dec. 31, 2011, plus an additional $46.2M from financing proceeds. CDX-011 is a human mAb against glycoprotein NMB (GPNMB) linked to the tubulin inhibitor monomethyl auristatin E (MMAE).