Aegis Capital has reiterated a ‘Buy’ rating and price target of $10 on shares of Celldex Therapeutics’ (NASDAQ: CLDX) stock. The news follows the company’s report of business and financial highlights for the fourth quarter and year-ended December 31, 2016. The company reported total revenue of $1.9 million in the fourth quarter of 2016, and full-year revenue of $6.8 million, compared to $1.8 million and $5.5 million for the comparable periods in 2015. The company credited the increase in revenue to its clinical trial collaboration with Bristol-Myers Squibb. The company also provided an update on its pipeline, including the increase in enrollment of its pivotal METRIC study, expected to be complete by the end of September 2017. Top-line results from this study are expected in the second quarter of 2018. The company expects to provide multiple clinical updates in 2017.
For more information visit www.celldex.com
About Celldex Therapeutics, Inc.
Celldex is developing targeted therapeutics to address devastating diseases for which available treatments are inadequate. The company’s pipeline includes antibodies, antibody-drug conjugates and other protein-based therapeutics derived from a broad set of complementary technologies which have the ability to engage the human immune system and/or directly inhibit tumors to treat specific types of cancer or other diseases.
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