Celldex Therapeutics Inc. (NASDAQ:CLDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The firm presently has a $5.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research’s price target indicates a potential upside of 24.69% from the company’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.”

Other equities analysts have also recently issued research reports about the stock. Roth Capital set a $7.00 target price on shares of Celldex Therapeutics and gave the company a “buy” rating in a research note on Wednesday, November 2nd. Aegis assumed coverage on shares of Celldex Therapeutics in a research note on Monday, November 7th. They set a “buy” rating on the stock. Wedbush reissued a “neutral” rating and set a $3.00 target price on shares of Celldex Therapeutics in a research note on Tuesday, August 9th. Cantor Fitzgerald reissued a “buy” rating and set a $9.00 target price on shares of Celldex Therapeutics in a research note on Monday, October 10th. Finally, Jefferies Group raised their target price on shares of Celldex Therapeutics to $5.00 and gave the company a “hold” rating in a research note on Friday, August 5th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $7.44.

Analyst Recommendations for Celldex Therapeutics (NASDAQ:CLDX)

Celldex Therapeutics (NASDAQ:CLDX) opened at 4.02 on Monday. The stock’s market cap is $407.02 million. The company’s 50 day moving average is $3.77 and its 200 day moving average is $4.09. Celldex Therapeutics has a 52 week low of $2.85 and a 52 week high of $18.31.

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

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Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors boosted its position in shares of Celldex Therapeutics by 4.6% in the second quarter. BlackRock Fund Advisors now owns 3,767,356 shares of the biopharmaceutical company’s stock valued at $16,539,000 after buying an additional 167,033 shares during the last quarter. BlackRock Investment Management LLC boosted its position in shares of Celldex Therapeutics by 20.6% in the second quarter. BlackRock Investment Management LLC now owns 416,213 shares of the biopharmaceutical company’s stock valued at $1,827,000 after buying an additional 71,078 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Celldex Therapeutics by 7.3% in the second quarter. Vanguard Group Inc. now owns 7,263,339 shares of the biopharmaceutical company’s stock valued at $31,886,000 after buying an additional 492,102 shares during 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 valued at $251,000 after buying an additional 1,650 shares during the last quarter. Finally, Suffolk Capital Management LLC boosted its position in shares of Celldex Therapeutics by 8.9% in the second quarter. Suffolk Capital Management LLC now owns 474,799 shares of the biopharmaceutical company’s stock valued at $2,084,000 after buying an additional 38,679 shares during the last quarter. Institutional investors own 67.97% of the company’s stock.

About Celldex Therapeutics

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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