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

Key Points

• Celldex Therapeutics has an average analyst rating of "Moderate Buy", based on coverage from 14 analysts. The consensus 12-month price target is about $52.77.
• Recent broker actions were mixed: Wells Fargo and Morgan Stanley lowered price targets but kept overweight ratings, while UBS and HC Wainwright maintained buy ratings and set higher targets. Weiss Ratings reaffirmed a sell (d-) rating.
• The stock opened at $35.28, below the average analyst target, after the company reported a quarterly EPS miss and very low revenue. Institutional investors also increased holdings, suggesting continued interest despite the company’s losses.

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $52.7692.

A number of brokerages have weighed in on CLDX. Wells Fargo & Company decreased their target price on Celldex Therapeutics from $54.00 to $48.00 and set an "overweight" rating for the company in a research report on Wednesday. Weiss Ratings reissued a "sell (d-)" rating on shares of Celldex Therapeutics in a research report on Friday, July 17th. Morgan Stanley cut their price target on Celldex Therapeutics from $44.00 to $40.00 and set an "overweight" rating on the stock in a research note on Wednesday. UBS Group lifted their price objective on Celldex Therapeutics from $38.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $42.00 price objective on shares of Celldex Therapeutics in a research note on Monday, June 15th.

Celldex Therapeutics Stock Performance

Shares of NASDAQ:CLDX opened at $35.28 on Friday. The firm's 50 day simple moving average is $33.64 and its 200-day simple moving average is $30.68. Celldex Therapeutics has a one year low of $19.72 and a one year high of $40.30. The firm has a market cap of $2.77 billion, a PE ratio of -8.28 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) 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 company had revenue of $0.01 million during the quarter, compared to analysts' expectations of $0.80 million. Equities research analysts predict that Celldex Therapeutics will post -4.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

Several large investors have recently modified their holdings of CLDX. Handelsbanken Fonder AB lifted its position in shares of Celldex Therapeutics by 5.0% in 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 period. Assenagon Asset Management S.A. increased its holdings in Celldex Therapeutics by 438.3% during the second 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 period. Apella Capital LLC increased its holdings in Celldex Therapeutics by 56.6% during the second quarter. Apella Capital LLC now owns 26,658 shares of the biopharmaceutical company's stock valued at $1,064,000 after buying an additional 9,634 shares during the period. Mirador Capital Partners LP increased its holdings in Celldex Therapeutics by 1.7% during the second quarter. Mirador Capital Partners LP now owns 181,054 shares of the biopharmaceutical company's stock valued at $6,737,000 after buying an additional 3,001 shares during the period. Finally, Seven Fleet Capital Management LP bought a new position in Celldex Therapeutics in the first quarter worth approximately $929,000.

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.

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