Celldex Therapeutics Inc. (NASDAQ:CLDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $4.50 target price on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective would suggest a potential upside of 4.17% from the stock’s previous close.

According to Zacks, “Celldex’s third-quarter results were encouraging with the company reporting narrower-than-expected loss and revenues surpassing expectations. The company’s efforts to build its immuno-oncology pipeline are also impressive.  The upcoming Kolltan acquisition bodes well for the company. Meanwhile, Celldex’s lead pipeline candidate, glembatumumab vedotin, is in mid-stage development for different types of cancer. We are encouraged by Celldex’s partnership agreements with big players like Bristol-Myers and Roche. However, with no approved product in its portfolio, Celldex has to depend entirely on product development and licensing agreements, contracts and grants for revenues. We are also concerned about the early-to mid- stage nature of its pipeline. With a number of ongoing studies, any development or regulatory setback would weigh heavily on the stock. Stiff competition in the immuno-oncology space remains a threat as well.”

Several other equities research analysts have also recently commented on CLDX. Roth Capital set a $7.00 price target on Celldex Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, November 2nd. Wedbush restated a “neutral” rating and set a $3.00 price target on shares of Celldex Therapeutics in a research note on Tuesday, November 8th. Cantor Fitzgerald restated a “buy” rating and set a $9.00 price target on shares of Celldex Therapeutics in a research note on Tuesday, November 8th. Jefferies Group restated a “hold” rating and set a $5.00 price target (up previously from $4.00) on shares of Celldex Therapeutics in a research note on Thursday, August 11th. Finally, Aegis initiated coverage on Celldex Therapeutics in a research report on Monday, November 7th. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $7.39.

Analyst Recommendations for Celldex Therapeutics (NASDAQ:CLDX)

Celldex Therapeutics (NASDAQ:CLDX) opened at 4.32 on Thursday. The stock’s 50 day moving average is $3.66 and its 200 day moving average is $4.04. The firm’s market cap is $434.35 million. Celldex Therapeutics has a 12 month low of $2.85 and a 12 month high of $18.62.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.04. Celldex Therapeutics had a negative return on equity of 51.46% and a negative net margin of 1,923.41%. The business earned $2.20 million during the quarter, compared to analysts’ expectations of $1.09 million. During the same quarter in the prior year, the business earned ($0.32) earnings per share. The company’s quarterly revenue was up 115.5% compared to the same quarter last year. On average, equities analysts forecast that Celldex Therapeutics will post ($1.29) earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in CLDX. JPMorgan Chase & Co. boosted its position in shares of Celldex Therapeutics by 94.9% in the first quarter. JPMorgan Chase & Co. now owns 690,128 shares of the biopharmaceutical company’s stock worth $2,608,000 after buying an additional 336,049 shares in the last quarter. National Planning Corp boosted its position in shares of Celldex Therapeutics by 3.1% in the second quarter. National Planning Corp now owns 55,246 shares of the biopharmaceutical company’s stock worth $251,000 after buying an additional 1,650 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Celldex Therapeutics by 304.5% in the first quarter. Canada Pension Plan Investment Board now owns 44,900 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 33,800 shares in the last quarter. Bellevue Group AG purchased a new position in shares of Celldex Therapeutics during the first quarter worth $605,000. Finally, Alps Advisors Inc. boosted its position in shares of Celldex Therapeutics by 24.9% in the second quarter. Alps Advisors Inc. now owns 138,680 shares of the biopharmaceutical company’s stock worth $609,000 after buying an additional 27,677 shares in the last quarter. Institutional investors and hedge funds own 77.63% of the company’s stock.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of several immunotherapy technologies for the treatment of cancer and other diseases. Its lead drug Rintega (rindopepimut and CDX-110) is a therapeutic vaccine in clinical studies for the treatment of glioblastoma patients that express a specific cancer marker known as type III epidermal growth factor receptor mutation (EGFRvIII).

5 Day Chart for NASDAQ:CLDX

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