Celldex Therapeutics, Inc. (NASDAQ:CLDX) Receives $46.67 Consensus PT from Brokerages

Key Points

• Celldex Therapeutics, Inc. has received a consensus rating of "Moderate Buy" from nine ratings firms, with an average 12-month target price of $46.67.
• The company's recent quarterly earnings reported a loss of ($0.85) per share, narrowly beating analyst expectations, but revenue fell short at $0.73 million.
• Significant changes in institutional ownership have been noted, with Nisa Investment Advisors LLC increasing its stake by 171.7% during the second quarter.

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $46.6667.

Several research analysts have commented on CLDX shares. HC Wainwright dropped their price target on Celldex Therapeutics from $50.00 to $42.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. UBS Group decreased their price objective on Celldex Therapeutics from $44.00 to $38.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Morgan Stanley decreased their price target on shares of Celldex Therapeutics from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Citigroup decreased their price target on shares of Celldex Therapeutics from $56.00 to $48.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company decreased their price target on shares of Celldex Therapeutics from $44.00 to $38.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th.

Celldex Therapeutics Price Performance

Shares of CLDX stock traded up $0.09 during trading on Thursday, reaching $22.87. The company had a trading volume of 1,140,628 shares, compared to its average volume of 1,571,091. The firm's 50 day simple moving average is $22.46 and its two-hundred day simple moving average is $20.65. Celldex Therapeutics has a one year low of $14.40 and a one year high of $47.00. The company has a market capitalization of $1.52 billion, a PE ratio of -7.60 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, beating analysts' consensus estimates of ($0.86) by $0.01. Celldex Therapeutics had a negative return on equity of 27.61% and a negative net margin of 3,446.88%.The business had revenue of $0.73 million for the quarter, compared to the consensus estimate of $1.13 million. Analysts forecast that Celldex Therapeutics will post -2.48 earnings per share for the current year.

Institutional Trading of Celldex Therapeutics

Several institutional investors have recently bought and sold shares of CLDX. Vestal Point Capital LP boosted its stake in Celldex Therapeutics by 781.0% in the 2nd quarter. Vestal Point Capital LP now owns 1,750,000 shares of the biopharmaceutical company's stock valued at $35,612,000 after buying an additional 1,551,354 shares in the last quarter. Deep Track Capital LP acquired a new stake in Celldex Therapeutics in the 4th quarter valued at $38,919,000. Point72 Asset Management L.P. boosted its stake in Celldex Therapeutics by 50.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,515,972 shares of the biopharmaceutical company's stock valued at $63,579,000 after buying an additional 847,264 shares in the last quarter. Nuveen LLC acquired a new stake in Celldex Therapeutics in the 1st quarter valued at $7,789,000. Finally, Segall Bryant & Hamill LLC acquired a new stake in Celldex Therapeutics in the 2nd quarter valued at $7,894,000.

About Celldex Therapeutics

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.