Morgan Stanley Lowers Celldex Therapeutics (NASDAQ:CLDX) Price Target to $40.00

Celldex Therapeutics (NASDAQ:CLDX) had its target price cut by Morgan Stanley from $44.00 to $40.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target suggests a potential upside of 12.93% from the stock’s previous close.

Several other brokerages also recently weighed in on CLDX. Wells Fargo & Company increased their target price on shares of Celldex Therapeutics from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Wall Street Zen raised Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Canaccord Genuity Group decreased their price objective on Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday. Guggenheim increased their price objective on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday. Finally, UBS Group lifted their target price on Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.77.

Celldex Therapeutics Price Performance

Shares of Celldex Therapeutics stock opened at $35.42 on Wednesday. The firm’s fifty day simple moving average is $33.56 and its 200-day simple moving average is $30.65. Celldex Therapeutics has a 12 month low of $19.72 and a 12 month high of $40.30. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of -8.31 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.80 million. Analysts anticipate that Celldex Therapeutics will post -4.36 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in Celldex Therapeutics in the third quarter valued at about $42,000. Russell Investments Group Ltd. boosted its holdings 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 3rd quarter worth approximately $63,000. Kestra Advisory Services LLC acquired a new position in Celldex Therapeutics during the 4th quarter worth approximately $98,000. Finally, Advisory Services Network LLC purchased a new position in shares of Celldex Therapeutics during the 3rd quarter worth approximately $139,000.

Celldex Therapeutics News Roundup

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.