Morgan Stanley Begins Coverage on Celldex Therapeutics (NASDAQ:CLDX)

Equities researchers at Morgan Stanley began coverage on shares of Celldex Therapeutics (NASDAQ:CLDX) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $46.00 price target on the biopharmaceutical company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 134.22% from the stock’s previous close.

A number of other brokerages have also recently issued reports on CLDX. UBS Group assumed coverage on shares of Celldex Therapeutics in a report on Thursday, February 13th. They issued a “buy” rating and a $44.00 target price on the stock. The Goldman Sachs Group dropped their price objective on Celldex Therapeutics from $42.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research note on Wednesday, January 29th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Celldex Therapeutics in a research note on Friday, February 28th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Celldex Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $54.33.

Celldex Therapeutics Stock Down 1.2 %

NASDAQ:CLDX opened at $19.64 on Thursday. Celldex Therapeutics has a twelve month low of $18.61 and a twelve month high of $47.00. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -7.64 and a beta of 1.76. The stock’s 50 day moving average price is $22.22 and its two-hundred day moving average price is $27.24.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.02. The business had revenue of $1.18 million for the quarter, compared to the consensus estimate of $1.25 million. Celldex Therapeutics had a negative net margin of 1,544.32% and a negative return on equity of 19.75%. As a group, analysts anticipate that Celldex Therapeutics will post -2.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLDX. EverSource Wealth Advisors LLC lifted its holdings in shares of Celldex Therapeutics by 215.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 878 shares in the last quarter. KBC Group NV boosted its holdings in Celldex Therapeutics by 31.2% in the 3rd quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 495 shares during the period. Headlands Technologies LLC acquired a new position in shares of Celldex Therapeutics during the 4th quarter worth approximately $81,000. AlphaQuest LLC increased its holdings in shares of Celldex Therapeutics by 171.0% during the fourth quarter. AlphaQuest LLC now owns 4,287 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 2,705 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Celldex Therapeutics in the fourth quarter valued at approximately $121,000.

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.