Celldex Therapeutics, Inc. (NASDAQ:CLDX) Receives $49.30 Average PT from Analysts

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $49.30.

CLDX has been the topic of several research reports. Wells Fargo & Company upped their price objective on Celldex Therapeutics from $38.00 to $54.00 and gave the company an “overweight” rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Monday, April 20th. UBS Group raised their price objective on Celldex Therapeutics from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, Wolfe Research raised shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Monday, March 23rd.

Celldex Therapeutics Price Performance

Shares of CLDX stock opened at $39.93 on Wednesday. The firm has a fifty day moving average of $32.62 and a two-hundred day moving average of $29.76. The firm has a market cap of $3.13 billion, a P/E ratio of -9.37 and a beta of 0.90. Celldex Therapeutics has a 1-year low of $19.72 and a 1-year high of $40.30.

Celldex Therapeutics (NASDAQ:CLDX) last issued 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 $0.01 million for the quarter, compared to analyst estimates of $0.80 million. On average, sell-side analysts expect that Celldex Therapeutics will post -4.36 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CLDX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Celldex Therapeutics by 1.6% in 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 during the last quarter. Millennium Management LLC lifted its stake in Celldex Therapeutics by 327.3% in the first quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company’s stock valued at $7,259,000 after buying an additional 306,330 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Celldex Therapeutics by 12.9% in the 1st 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 during the period. Russell Investments Group Ltd. boosted its stake in Celldex Therapeutics by 27.6% during 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 during the period. Finally, Hsbc Holdings PLC acquired a new stake in shares of Celldex Therapeutics in the second quarter valued at approximately $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.