Guggenheim Boosts Celldex Therapeutics (NASDAQ:CLDX) Price Target to $100.00

Celldex Therapeutics (NASDAQ:CLDX) had its target price raised by equities research analysts at Guggenheim from $90.00 to $100.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s price objective indicates a potential upside of 180.43% from the stock’s current price.

Several other research analysts also recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $42.00 price target on shares of Celldex Therapeutics in a research report on Monday, June 15th. Barclays increased their price objective on Celldex Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. UBS Group boosted their target price on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. 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. Finally, Wolfe Research upgraded shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 target price for the company in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.91.

Celldex Therapeutics Stock Performance

Shares of NASDAQ:CLDX opened at $35.66 on Monday. The stock’s 50-day moving average is $33.46 and its 200-day moving average is $30.53. The company has a market cap of $2.80 billion, a P/E ratio of -8.37 and a beta of 0.90. Celldex Therapeutics has a 52-week low of $19.72 and a 52-week high of $40.30.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings data 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 company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.80 million. As a group, equities analysts predict that Celldex Therapeutics will post -4.36 EPS for the current year.

Institutional Trading of Celldex Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in Celldex Therapeutics by 39.3% during the fourth quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock worth $219,442,000 after purchasing an additional 2,279,605 shares during the period. Vanguard Group Inc. grew its stake in shares of Celldex Therapeutics by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 4,027,407 shares of the biopharmaceutical company’s stock valued at $109,384,000 after purchasing an additional 72,817 shares during the period. Bellevue Group AG raised its holdings in shares of Celldex Therapeutics by 7.6% in the 3rd quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company’s stock worth $92,037,000 after buying an additional 250,100 shares in the last quarter. Commodore Capital LP raised its holdings in shares of Celldex Therapeutics by 7.8% in the 2nd quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company’s stock worth $70,208,000 after buying an additional 250,000 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Celldex Therapeutics by 19.5% in the 4th quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock worth $92,282,000 after buying 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.