Celldex Therapeutics, Inc. (NASDAQ:CLDX) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Celldex Therapeutics has received a consensus rating of "Moderate Buy" from eight analysts, with one hold and seven buy recommendations.
• The average twelve-month price target for Celldex Therapeutics is $46.13, following various price adjustments by analysts, including a reduction by Wells Fargo to $38.00.
• Celldex reported a Q2 loss of ($0.85) EPS, slightly beating expectations, but generated lower revenue than anticipated at $0.73 million.

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $46.1250.

CLDX has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price target on Celldex Therapeutics from $44.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, August 20th. Citigroup reduced their price target on Celldex Therapeutics from $56.00 to $48.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Canaccord Genuity Group reissued a "buy" rating and issued a $62.00 price target on shares of Celldex Therapeutics in a report on Wednesday, September 17th. Finally, HC Wainwright reduced their price objective on Celldex Therapeutics from $50.00 to $42.00 and set a "buy" rating for the company in a report on Wednesday, August 20th.

Celldex Therapeutics Price Performance

CLDX opened at $26.14 on Monday. The business has a 50 day simple moving average of $23.25 and a 200-day simple moving average of $21.06. The stock has a market capitalization of $1.74 billion, a P/E ratio of -8.68 and a beta of 1.19. Celldex Therapeutics has a 12 month low of $14.40 and a 12 month high of $34.50.

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

Hedge Funds Weigh In On Celldex Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Mirador Capital Partners LP raised its holdings in Celldex Therapeutics by 24.1% during the second quarter. Mirador Capital Partners LP now owns 158,717 shares of the biopharmaceutical company's stock worth $3,230,000 after purchasing an additional 30,843 shares during the last quarter. Sovran Advisors LLC acquired a new position in Celldex Therapeutics during the second quarter worth $842,000. PDT Partners LLC acquired a new position in Celldex Therapeutics during the first quarter worth $379,000. Trexquant Investment LP acquired a new position in Celldex Therapeutics during the first quarter worth $1,420,000. Finally, Deutsche Bank AG raised its holdings in Celldex Therapeutics by 13.8% during the first quarter. Deutsche Bank AG now owns 138,289 shares of the biopharmaceutical company's stock worth $2,510,000 after purchasing an additional 16,788 shares during the last quarter.

Celldex Therapeutics Company Profile

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.

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