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Fly News Breaks for April 17, 2018
CLDX
Apr 17, 2018 | 07:13 EDT
Cantor Fitzgerald analyst Mara Goldstein downgraded Celldex Therapeutics to Neutral from Overweight and cut her price target for the shares to $3 from $9. The analyst ascribed $6 per share in value to glembatumumab vedotin. With the failure of the Metric study and the discontinuation of the program in melanoma, she thinks the rest of the company's pipeline is worth $3 per share. Goldstein thinks the shares are "going to struggle" until there are data from one of the company's four remaining programs.
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