Cantor Fitzgerald Issues Pessimistic Forecast for Celldex Therapeutics (NASDAQ:CLDX) Stock Price

Celldex Therapeutics (NASDAQ:CLDX) had its target price cut by Cantor Fitzgerald from $67.00 to $61.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 72.22% from the stock’s previous close.

CLDX has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Celldex Therapeutics in a report on Monday, June 15th. Wall Street Zen raised Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Guggenheim raised their price target on Celldex Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday. Barclays lifted their price target on Celldex Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company increased their price objective on Celldex Therapeutics from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Celldex Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.77.

Celldex Therapeutics Stock Performance

Shares of Celldex Therapeutics stock opened at $35.42 on Wednesday. Celldex Therapeutics has a one year low of $19.72 and a one year high of $40.30. The company has a market cap of $2.78 billion, a P/E ratio of -8.31 and a beta of 0.90. The firm has a fifty day moving average of $33.56 and a two-hundred day moving average of $30.65.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share for the quarter, missing the consensus estimate 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. As a group, equities analysts predict that Celldex Therapeutics will post -4.36 earnings per share for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Celldex Therapeutics during the 3rd quarter worth approximately $42,000. Russell Investments Group Ltd. increased its stake in Celldex Therapeutics by 27.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 501 shares in the last quarter. Quantbot Technologies LP acquired a new position in Celldex Therapeutics during the third quarter worth $63,000. Kestra Advisory Services LLC acquired a new position in Celldex Therapeutics during the fourth quarter worth $98,000. Finally, Advisory Services Network LLC purchased a new stake in Celldex Therapeutics during the third quarter worth $139,000.

Key Headlines Impacting Celldex Therapeutics

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.