Celldex Therapeutics, Inc. (NASDAQ:CLDX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $56.4167.

A number of equities analysts recently weighed in on CLDX shares. Morgan Stanley boosted their price target on shares of Celldex Therapeutics from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Friday, July 17th. Barclays raised their price target on shares of Celldex Therapeutics from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Guggenheim lifted their price objective on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Canaccord Genuity Group lowered their price objective on Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd.

Celldex Therapeutics Trading Down 1.9%

Shares of NASDAQ:CLDX opened at $38.24 on Monday. The stock has a market cap of $3.00 billion, a PE ratio of -8.79 and a beta of 0.84. The stock’s fifty day simple moving average is $39.13 and its two-hundred day simple moving average is $34.71. Celldex Therapeutics has a 1-year low of $22.10 and a 1-year high of $45.14.

Celldex Therapeutics (NASDAQ:CLDX) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.12. The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.73 million. On average, sell-side analysts forecast that Celldex Therapeutics will post -4.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Engineers Gate Manager LP bought a new stake in shares of Celldex Therapeutics during the 2nd quarter valued at about $1,259,000. Arizona State Retirement System increased its stake in Celldex Therapeutics by 13.0% in the second quarter. Arizona State Retirement System now owns 18,565 shares of the biopharmaceutical company’s stock valued at $691,000 after acquiring an additional 2,139 shares during the last quarter. Nykredit A S purchased a new stake in Celldex Therapeutics during the second quarter valued at about $67,000. Corient Private Wealth LP raised its position in Celldex Therapeutics by 1,109.0% during the second quarter. Corient Private Wealth LP now owns 176,956 shares of the biopharmaceutical company’s stock valued at $6,585,000 after purchasing an additional 162,320 shares in the last quarter. Finally, Seven Fleet Capital Management LP lifted its stake in Celldex Therapeutics by 195.8% during the second quarter. Seven Fleet Capital Management LP now owns 86,664 shares of the biopharmaceutical company’s stock worth $3,225,000 after purchasing an additional 57,364 shares during the last quarter.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for diseases with significant unmet medical needs. The company’s research programs address conditions in immunology, inflammation, oncology and other areas where targeted immune-system modulation may provide therapeutic benefits.

Celldex’s lead investigational product is barzolvolimab, an antibody designed to block the KIT receptor and reduce mast cells. The therapy is being studied in immune-mediated diseases, including chronic spontaneous urticaria and prurigo nodularis.