The Goldman Sachs Group Forecasts Strong Price Appreciation for Celldex Therapeutics (NASDAQ:CLDX) Stock

Celldex Therapeutics (NASDAQ:CLDX) had its price target raised by equities research analysts at The Goldman Sachs Group from $30.00 to $34.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 17.48% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus reissued a “buy” rating and set a $68.00 price objective (up from $58.00) on shares of Celldex Therapeutics in a report on Thursday, February 26th. Barclays increased their target price on shares of Celldex Therapeutics from $21.00 to $24.00 and gave the company an “underweight” rating in a research report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Celldex Therapeutics Price Performance

Shares of NASDAQ CLDX opened at $28.94 on Monday. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -7.44 and a beta of 1.17. The business has a 50-day moving average of $25.80 and a two-hundred day moving average of $25.58. Celldex Therapeutics has a 1 year low of $14.40 and a 1 year high of $31.31.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.22). Celldex Therapeutics had a negative net margin of 3,446.88% and a negative return on equity of 41.67%. The business had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $1.53 million. As a group, equities research analysts expect that Celldex Therapeutics will post -2.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Simplify Asset Management Inc. acquired a new position in Celldex Therapeutics during the third quarter worth about $2,199,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Celldex Therapeutics during the 2nd quarter worth approximately $1,188,000. Corient Private Wealth LLC purchased a new stake in shares of Celldex Therapeutics during the 2nd quarter worth approximately $4,105,000. American Century Companies Inc. grew its holdings in shares of Celldex Therapeutics by 24.7% in the 2nd quarter. American Century Companies Inc. now owns 779,985 shares of the biopharmaceutical company’s stock worth $15,873,000 after acquiring an additional 154,664 shares during the period. Finally, TFG Asset Management GP Ltd increased its stake in Celldex Therapeutics by 21.1% in the 2nd quarter. TFG Asset Management GP Ltd now owns 316,150 shares of the biopharmaceutical company’s stock valued at $6,434,000 after purchasing an additional 55,150 shares in the last quarter.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company’s research platforms leverage novel antibody and vaccine technologies designed to engage the patient’s immune system, with a particular emphasis on oncology and neurologic indications. Celldex’s pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex’s lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.