Celldex Therapeutics (NASDAQ:CLDX) Price Target Raised to $48.00

Celldex Therapeutics (NASDAQ:CLDX) had its price target lifted by Barclays from $45.00 to $48.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group boosted their target price on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price target (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. Finally, Wolfe Research raised Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research note on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Celldex Therapeutics Stock Performance

Shares of Celldex Therapeutics stock opened at $33.97 on Friday. The firm has a 50-day moving average of $31.69 and a 200-day moving average of $27.87. The stock has a market cap of $2.67 billion, a PE ratio of -7.97 and a beta of 0.98. Celldex Therapeutics has a 52-week low of $18.20 and a 52-week high of $35.79.

Celldex Therapeutics (NASDAQ:CLDX) last announced its 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 $0.02 million for the quarter, compared to the consensus estimate of $0.80 million. Equities research analysts predict that Celldex Therapeutics will post -4.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CLDX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Celldex Therapeutics by 1.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock worth $798,000 after acquiring an additional 680 shares in the last quarter. Millennium Management LLC raised its stake in Celldex Therapeutics by 327.3% during the first quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company’s stock worth $7,259,000 after acquiring an additional 306,330 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Celldex Therapeutics by 12.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,296 shares of the biopharmaceutical company’s stock worth $2,383,000 after acquiring an additional 14,979 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Celldex Therapeutics by 27.6% during the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 501 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Celldex Therapeutics during the second quarter worth about $347,000.

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.