Celldex Therapeutics, Inc. (NASDAQ:CLDX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) have been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $49.7778.

Several equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. 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. The Goldman Sachs Group increased their target price on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a report on Thursday, February 26th. Finally, Wolfe Research raised shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Monday, March 23rd.

Celldex Therapeutics Stock Performance

Shares of CLDX opened at $28.62 on Friday. Celldex Therapeutics has a fifty-two week low of $19.52 and a fifty-two week high of $35.79. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -6.72 and a beta of 0.95. The firm has a 50-day simple moving average of $32.00 and a 200-day simple moving average of $28.68.

Celldex Therapeutics (NASDAQ:CLDX) last announced 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 $0.02 million for the quarter, compared to analyst estimates of $0.80 million. Equities research analysts forecast that Celldex Therapeutics will post -4.36 EPS for the current year.

Institutional Trading of Celldex Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of Celldex Therapeutics by 39.3% in the fourth quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock valued at $219,442,000 after acquiring an additional 2,279,605 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Celldex Therapeutics by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 4,027,407 shares of the biopharmaceutical company’s stock valued at $109,384,000 after acquiring an additional 72,817 shares in the last quarter. Bellevue Group AG boosted its holdings in shares of Celldex Therapeutics by 7.6% in the third quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company’s stock valued at $92,037,000 after acquiring an additional 250,100 shares in the last quarter. Commodore Capital LP boosted its holdings in shares of Celldex Therapeutics by 7.8% in the second quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company’s stock valued at $70,208,000 after acquiring an additional 250,000 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Celldex Therapeutics by 19.5% in the fourth quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock valued at $92,282,000 after acquiring an additional 555,579 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.