Celldex Therapeutics (NASDAQ:CLDX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Celldex Therapeutics (NASDAQ:CLDX) had its price target upped by stock analysts at Wells Fargo & Company from $38.00 to $54.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 67.08% from the company’s current price.

A number of other equities analysts have also weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. Stifel Nicolaus restated a “buy” rating and set a $68.00 price target (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. Wolfe Research raised shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Monday, March 23rd. Barclays increased their target price on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Wall Street Zen raised Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.78.

Celldex Therapeutics Stock Up 1.0%

Shares of NASDAQ:CLDX opened at $32.32 on Wednesday. The firm has a 50 day moving average of $31.82 and a 200 day moving average of $27.98. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -7.53 and a beta of 0.98. Celldex Therapeutics has a 52 week low of $18.47 and a 52 week high of $35.79.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly 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 during the quarter, compared to analyst estimates of $0.80 million. On average, sell-side analysts expect that Celldex Therapeutics will post -4.53 EPS for the current year.

Institutional Trading of Celldex Therapeutics

Large investors have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in Celldex Therapeutics in the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Celldex Therapeutics in the 3rd quarter valued at approximately $42,000. Russell Investments Group Ltd. raised its holdings 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. Quantbot Technologies LP acquired a new stake in shares of Celldex Therapeutics in the 3rd quarter valued at $63,000. Finally, Strs Ohio purchased a new stake in shares of Celldex Therapeutics during the 3rd quarter worth $75,000.

About Celldex Therapeutics

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.