Roth capital raised their target from 11 to 16 today. Sighting 011 future trials, 1127 clean tolerability profile, DDD drug, and did not even mention the Glio prospect which I think is the first one of the box and on base in a couple years. Buy and hold or buy in segements, I believe like most companies the big companies will probably make CLDX fund most into phase 3 and then try to come in for a kill.
Agree that 16 is a base case scenario and only is considers we get a reasonable SPA agreement with FDA for phase III for CDX-011 starting phase III by end of the year. It doesn't in my opinion include any surprise upside potential or partnership announcements or conditional approval of CDX-011 for use in triple negative patients during phase III or a buy out that would certainly double this 1 year target. I'm increasing my recommendation from BUY to STRONG BUY with a target of $32 on probability that one or more of the surprise upside catalysts occur this year. te he