Wells Fargo & Company Lowers Celldex Therapeutics (NASDAQ:CLDX) Price Target to $48.00

Celldex Therapeutics (NASDAQ:CLDX) had its price objective decreased by stock analysts at Wells Fargo & Company from $54.00 to $48.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 35.52% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Cantor Fitzgerald lowered their price objective on Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Friday, July 17th. HC Wainwright reiterated a “buy” rating and set a $42.00 price target on shares of Celldex Therapeutics in a report on Monday, June 15th. UBS Group boosted their price target on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Finally, Wall Street Zen raised shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.77.

Celldex Therapeutics Price Performance

Shares of Celldex Therapeutics stock opened at $35.42 on Wednesday. The stock has a market cap of $2.78 billion, a P/E ratio of -8.31 and a beta of 0.90. The stock’s 50 day simple moving average is $33.56 and its 200-day simple moving average is $30.65. Celldex Therapeutics has a 1-year low of $19.72 and a 1-year high of $40.30.

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

Hedge Funds Weigh In On Celldex Therapeutics

A number of hedge funds have recently modified their holdings of CLDX. SG Americas Securities LLC raised its stake in shares of Celldex Therapeutics by 143.2% in the 4th quarter. SG Americas Securities LLC now owns 47,340 shares of the biopharmaceutical company’s stock valued at $1,286,000 after acquiring an additional 27,872 shares during the period. Tudor Investment Corp ET AL purchased a new position in shares of Celldex Therapeutics during the 3rd quarter worth approximately $818,000. PSP Research LLC purchased a new position in shares of Celldex Therapeutics during the 4th quarter worth approximately $553,000. Y Intercept Hong Kong Ltd acquired a new stake in Celldex Therapeutics in the 1st quarter valued at approximately $1,433,000. Finally, Candriam S.C.A. acquired a new stake in Celldex Therapeutics in the 1st quarter valued at approximately $8,846,000.

Key Celldex Therapeutics News

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

Celldex Therapeutics Company Profile

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.