Celldex Therapeutics, Inc. (NASDAQ:CLDX) Receives $62.25 Average PT from Brokerages

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $62.25.

A number of equities analysts have commented on the stock. Wolfe Research downgraded shares of Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 27th. Wells Fargo & Company upgraded shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. Citigroup assumed coverage on Celldex Therapeutics in a report on Monday, October 7th. They issued a “buy” rating and a $70.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a research report on Monday, September 16th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Celldex Therapeutics in a research report on Thursday, September 26th.

Celldex Therapeutics Stock Performance

Shares of Celldex Therapeutics stock opened at $29.72 on Monday. The business’s 50 day moving average price is $36.50 and its 200 day moving average price is $37.27. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -10.43 and a beta of 1.55. Celldex Therapeutics has a one year low of $22.11 and a one year high of $53.18.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.05. The business had revenue of $2.50 million for the quarter, compared to analyst estimates of $1.13 million. Celldex Therapeutics had a negative return on equity of 23.66% and a negative net margin of 1,809.18%. On average, analysts predict that Celldex Therapeutics will post -2.5 EPS for the current fiscal year.

Institutional Trading of Celldex Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLDX. Wellington Management Group LLP grew its stake in shares of Celldex Therapeutics by 19.2% in the fourth quarter. Wellington Management Group LLP now owns 6,476,561 shares of the biopharmaceutical company’s stock valued at $256,860,000 after buying an additional 1,044,728 shares in the last quarter. Vanguard Group Inc. increased its stake in Celldex Therapeutics by 19.8% during the first quarter. Vanguard Group Inc. now owns 3,650,582 shares of the biopharmaceutical company’s stock worth $153,215,000 after purchasing an additional 604,251 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Celldex Therapeutics by 631.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock worth $129,571,000 after purchasing an additional 2,664,915 shares in the last quarter. Bellevue Group AG boosted its stake in shares of Celldex Therapeutics by 15.7% in the first quarter. Bellevue Group AG now owns 2,796,615 shares of the biopharmaceutical company’s stock valued at $117,374,000 after purchasing an additional 380,319 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in shares of Celldex Therapeutics by 51.0% in the second quarter. Point72 Asset Management L.P. now owns 1,937,991 shares of the biopharmaceutical company’s stock valued at $71,725,000 after purchasing an additional 654,194 shares during the period.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.