Celldex Therapeutics (NASDAQ:CLDX) Stock Keeps Buy Rating at HC Wainwright

Key Points

• HC Wainwright reiterated its “Buy” rating on Celldex Therapeutics and maintained a $64 price target, implying approximately 98% upside from the reported $32.31 share price.
• Analyst sentiment remains favorable, with MarketBeat reporting a “Moderate Buy” consensus rating and an average price target of $61.92; several firms recently raised their targets.
• Celldex reported a quarterly loss of $0.94 per share, better than the expected $1.06 loss, though revenue of $0.02 million fell short of estimates. Institutional investors, including Wellington Management and Assenagon Asset Management, recently increased their holdings.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report)'s stock had its "buy" rating restated by equities researchers at HC Wainwright in a research note issued on Friday, Benzinga reports. They currently have a $64.00 price target on the biopharmaceutical company's stock. HC Wainwright's target price points to a potential upside of 98.06% from the company's current price.

CLDX has been the subject of several other research reports. Guggenheim upped their target price on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Wells Fargo & Company increased their target price on Celldex Therapeutics from $48.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Barclays increased their target price on Celldex Therapeutics from $48.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Canaccord Genuity Group decreased their price target on Celldex Therapeutics from $62.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Finally, Leerink Partners raised their price objective on Celldex Therapeutics from $70.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $61.92.

Celldex Therapeutics Stock Up 0.4%

NASDAQ:CLDX opened at $32.31 on Friday. Celldex Therapeutics has a 52-week low of $22.10 and a 52-week high of $45.14. The stock's 50 day moving average price is $38.45 and its 200 day moving average price is $34.91. The company has a market capitalization of $2.54 billion, a PE ratio of -7.41 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, beating analysts' consensus estimates of ($1.06) by $0.12. The business had revenue of $0.02 million during the quarter, compared to analysts' expectations of $0.74 million. As a group, sell-side analysts anticipate that Celldex Therapeutics will post -4.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLDX. Wellington Management Group LLP boosted its position in Celldex Therapeutics by 11.5% in the second quarter. Wellington Management Group LLP now owns 9,543,671 shares of the biopharmaceutical company's stock valued at $355,120,000 after buying an additional 983,195 shares in the last quarter. Elmind Capital LP bought a new stake in Celldex Therapeutics in the 4th quarter worth about $23,493,000. Assenagon Asset Management S.A. grew its position in shares of Celldex Therapeutics by 438.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 788,696 shares of the biopharmaceutical company's stock valued at $29,347,000 after acquiring an additional 642,171 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Celldex Therapeutics by 62.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,059,534 shares of the biopharmaceutical company's stock valued at $33,596,000 after buying an additional 407,818 shares in the last quarter. Finally, Eversept Partners LP increased its position in shares of Celldex Therapeutics by 24.6% in the first quarter. Eversept Partners LP now owns 1,788,016 shares of the biopharmaceutical company's stock valued at $56,716,000 after acquiring an additional 353,291 shares during the period.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapies for diseases with significant unmet medical needs. The company's research programs target mast cell–mediated disorders, inflammatory diseases, and cancer, using engineered antibodies designed to modulate specific immune-system pathways.

Celldex's lead product candidate is barzolvolimab, an investigational monoclonal antibody that targets the KIT receptor on mast cells.