Cantor raises price target on Celldex

• Cantor Fitzgerald follows Leerink in hiking the price target on Celldex Therapeutics (NASDAQ:CLDX) after the stock's recent move higher.
• Once the shares rose above Cantor's previous target ($24), analyst Mara Goldstein knew just what to do: "Shares have experienced strength of late [and] we like CLDX's pipeline and the opportunity for continued valuation expansion based on catalyst events. Using a risk-adjusted revenue calculation of each [pipeline] candidate, plus the value of technology, early-stage assets, and cash, we see upside to $39."
• The new target represents a 19% upside from Monday's close.