Needham Initiates Coverage on Celator Pharmaceuticals Inc to Buy

Needham Initiates Coverage on Celator Pharmaceuticals Inc(NASDAQ:CPXX). The shares have been rated Buy. The rating by Needham was issued on Apr 12, 2016.

In a different note, On Mar 15, 2016, H.C. Wainwright said it Maintains its rating on Celator Pharmaceuticals Inc. In the research note, the firm Raises the price-target to $7.00 per share. The shares have been rated ‘Buy’ by the firm. On Mar 15, 2016, Roth Capital said it Maintains its rating on Celator Pharmaceuticals Inc. In the research note, the firm Raises the price-target to $18.00 per share. The shares have been rated ‘Buy’ by the firm. Janney Capital said it Initiates Coverage on Celator Pharmaceuticals Inc, according to a research note issued on Mar 15, 2016. The shares have been rated ‘Buy’ by the firm.

Celator Pharmaceuticals Inc (CPXX) made into the market gainers list on Fridays trading session with the shares advancing 7.50% or 1.05 points. Due to strong positive momentum, the stock ended at $15.05, which is also near the day’s high of $15.31. The stock began the session at $13.94 and the volume stood at 35,39,055 shares. The 52-week high of the shares is $15.31 and the 52 week low is $1.12. The company has a current market capitalization of $548 M and it has 3,63,86,056 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Dec 7, 2015, Scott D Morenstein (director) purchased 5,000 shares at $1.87 per share price.Also, On Oct 7, 2015, Scott Thomas Jackson (CEO) purchased 14,450 shares at $1.74 per share price.On Oct 5, 2015, Fred M Powell (CFO) purchased 13,700 shares at $1.78 per share price, according to the Form-4 filing with the securities and exchange commission.

Celator Pharmaceuticals Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in developing products to cure cancer. Celator’s technology platform CombiPlex offers the rational design and rapid evaluation of combinations incorporating traditional chemotherapies as well as molecularly targeted agents to deliver anti-cancer activity. The Company’s products are in research and development phases. Celator’s lead product is CPX-351 a liposomal formulation of cytarabine:daunorubicin for the treatment of acute myeloid leukemia. The Company owns worldwide development and commercialization rights to CPX-351. The Company’s other pipeline products includes CPX-1 a liposomal formulation of irinotecan:floxuridine for the treatment of colorectal cancer and a preclinical stage product candidate CPX-8 a hydrophobic docetaxel prodrug nanoparticle formulation.

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