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Fly News Breaks for August 11, 2015
CLDX
Aug 11, 2015 | 07:07 EDT
Cantor cut its price target on Celldex after the company said it would not file for FDA approval of its Rintega drug until late 2015 or early 2016. The firm expects the stock to decline today on the news. However, Cantor still likes the stock, as the firm says that Rintega's data has been strong, while the company's mid to late stage assets are "compelling." Cantor expects the overhang caused by Rintega;s delay to fade over time, and it keeps a Buy rating on the shares.
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