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3rd Qtr 5:05

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Celldex Therapeutics rebounds on rating

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Needham biotech Celldex Therapeutics Inc. rebounded a day after it reported a loss for 2012 and for the fourth quarter. Celldex reported a net loss of $16.8 million, or 27 cents per share, for the quarter, compared to loss of $12.7 million, or 29 cents, in 2011. For the twelve months, Celldex reported a net loss of $59.1 million, or $1.02 per share, compared to a loss of $44.8 million, or $1.13, last year. Friday’s jump came after analysts at Leerink Swann initiated coverage for Celldex with a rating of outperform, setting a price of $18.

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