Celldex Therapeutics (NASDAQ:CLDX) Hits New 12-Month High – What’s Next?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s share price hit a new 52-week high on Tuesday . The company traded as high as $39.70 and last traded at $39.5490, with a volume of 469221 shares changing hands. The stock had previously closed at $37.95.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Barclays upped their price target on Celldex Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. 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 report on Wednesday, May 13th. UBS Group raised their price target on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Monday, April 20th. Finally, HC Wainwright reiterated a “buy” rating and set a $42.00 price objective on shares of Celldex Therapeutics in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $49.30.

Celldex Therapeutics Stock Performance

The stock has a fifty day simple moving average of $32.48 and a two-hundred day simple moving average of $29.66. The stock has a market cap of $3.14 billion, a PE ratio of -9.44 and a beta of 0.90.

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 $0.01 million for the quarter, compared to analyst estimates of $0.80 million. On average, equities analysts predict that Celldex Therapeutics, Inc. will post -4.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. raised its position in shares of Celldex Therapeutics by 27.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 501 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of 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 buying an additional 680 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Celldex Therapeutics by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 11,973 shares of the biopharmaceutical company’s stock worth $325,000 after buying an additional 773 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of Celldex Therapeutics by 7.5% in the fourth quarter. Panagora Asset Management Inc. now owns 21,856 shares of the biopharmaceutical company’s stock worth $594,000 after buying an additional 1,522 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Celldex Therapeutics in the third quarter valued at $42,000.

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.