Barclays Forecasts Strong Price Appreciation for Celldex Therapeutics (NASDAQ:CLDX) Stock

Key Points

• Barclays raised its Celldex Therapeutics price target to $53 from $48 and maintained an “overweight” rating, implying 27.53% upside from the prior close.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $55, although ratings range from “Strong Buy” to “Sell.”
• Celldex reported a quarterly loss of $0.94 per share, beating expectations for a $1.06 loss, but revenue of $0.02 million fell well short of the $0.73 million forecast.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) had its price target lifted by investment analysts at Barclays from $48.00 to $53.00 in a report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the biopharmaceutical company's stock. Barclays's price objective would indicate a potential upside of 27.53% from the stock's previous close.

A number of other equities research analysts have also weighed in on the company. Wall Street Zen raised Celldex Therapeutics from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th. 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 research note on Wednesday, July 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of Celldex Therapeutics in a report on Friday, July 17th. Canaccord Genuity Group decreased their price target 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. Finally, Guggenheim upped 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. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

Celldex Therapeutics Stock Performance

Shares of CLDX stock opened at $41.56 on Friday. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of -9.76 and a beta of 0.87. Celldex Therapeutics has a 1 year low of $19.72 and a 1 year high of $41.74. The stock's 50-day moving average is $34.99 and its two-hundred day moving average is $31.46.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) EPS 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 $0.73 million. As a group, research analysts predict that Celldex Therapeutics will post -4.36 EPS for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of large investors have recently bought and sold shares of CLDX. Bank of New York Mellon Corp acquired a new stake in Celldex Therapeutics in the 2nd quarter valued at $8,342,000. Handelsbanken Fonder AB increased its holdings in Celldex Therapeutics by 5.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 27,200 shares of the biopharmaceutical company's stock worth $1,012,000 after purchasing an additional 1,300 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake 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 buying an additional 642,171 shares during the last quarter. Apella Capital LLC raised its holdings in Celldex Therapeutics by 56.6% in the second quarter. Apella Capital LLC now owns 26,658 shares of the biopharmaceutical company's stock valued at $1,064,000 after acquiring an additional 9,634 shares in the last quarter. Finally, Mirador Capital Partners LP increased its position in shares of Celldex Therapeutics by 1.7% in the 2nd quarter. Mirador Capital Partners LP now owns 181,054 shares of the biopharmaceutical company's stock worth $6,737,000 after purchasing an additional 3,001 shares during the last quarter.

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.

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