Canaccord Genuity Group Issues Pessimistic Forecast for Celldex Therapeutics (NASDAQ:CLDX) Stock Price

Celldex Therapeutics (NASDAQ:CLDX) had its target price lowered by equities researchers at Canaccord Genuity Group from $62.00 to $60.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price target points to a potential upside of 69.40% from the company’s current price.

Other research analysts also recently issued reports about the stock. Guggenheim increased their price objective on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday. Wells Fargo & Company boosted their target price on shares of Celldex Therapeutics from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Friday, July 17th. Wall Street Zen raised shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $42.00 price target on shares of Celldex Therapeutics in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $52.77.

Celldex Therapeutics Stock Up 1.9%

Shares of CLDX opened at $35.42 on Wednesday. The business’s 50 day moving average is $33.56 and its two-hundred day moving average is $30.65. Celldex Therapeutics has a 52-week low of $19.72 and a 52-week high of $40.30. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -8.31 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.03). The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.80 million. On average, equities analysts expect that Celldex Therapeutics will post -4.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Celldex Therapeutics by 1.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock worth $798,000 after purchasing an additional 680 shares during the period. Millennium Management LLC grew its position in shares of Celldex Therapeutics by 327.3% during the 1st quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company’s stock valued at $7,259,000 after buying an additional 306,330 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Celldex Therapeutics by 12.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,296 shares of the biopharmaceutical company’s stock valued at $2,383,000 after buying an additional 14,979 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Celldex Therapeutics by 27.6% during the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 501 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Celldex Therapeutics during the second quarter worth about $347,000.

Celldex Therapeutics News Summary

Here are the key news stories impacting Celldex Therapeutics this week:

• Positive Sentiment: Celldex reported Phase 2 results for barzolvolimab in prurigo nodularis, a key pipeline update that could support the drug’s long-term commercial potential and may be helping sentiment around the stock. Article Title
• Positive Sentiment: Guggenheim boosted its price target on Celldex to $100, signaling continued confidence in the company’s pipeline and valuation potential. Article Title
• Positive Sentiment: Wells Fargo, Morgan Stanley, Cantor Fitzgerald, and Canaccord Genuity all kept constructive ratings on CLDX despite trimming targets, suggesting analysts still see meaningful upside from current levels.
• Neutral Sentiment: Multiple firms lowered price targets modestly, which may reflect a more measured view after recent volatility, but their ratings remained positive overall.
• Negative Sentiment: Earlier coverage pointed to a roughly 10% after-hours drop, likely tied to market reaction to the trial update and/or concerns about the discontinuation of part of the study. Article Title

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.