Celldex Therapeutics (NASDAQ:CLDX) Given New $100.00 Price Target at Guggenheim

Key Points

• Guggenheim raised its price target on Celldex Therapeutics from $90 to $100 and kept a buy rating, implying roughly 183% upside from the current share price.
• Other analysts remain broadly positive: the stock now has a consensus rating of Moderate Buy with an average price target of $53.91, though ratings and targets vary across firms.
• Celldex recently reported a Q1 loss of $1.18 per share and minimal revenue, while the stock traded at $35.35 with a market cap of about $2.77 billion.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) had its price target upped by equities researchers at Guggenheim from $90.00 to $100.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. Guggenheim's price target would indicate a potential upside of 182.89% from the stock's current price.

Other research analysts have also issued reports about the company. Barclays increased their price objective on Celldex Therapeutics from $45.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Wolfe Research upgraded Celldex Therapeutics from a "peer perform" rating to an "outperform" rating and set a $44.00 price objective for the company in a research report on Monday, March 23rd. Wall Street Zen raised shares of Celldex Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Sunday, July 12th. UBS Group raised their price objective on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Finally, Wells Fargo & Company raised their price target on Celldex Therapeutics from $38.00 to $54.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $53.91.

Celldex Therapeutics Stock Performance

CLDX opened at $35.35 on Monday. Celldex Therapeutics has a 1-year low of $19.72 and a 1-year high of $40.30. The stock has a market capitalization of $2.77 billion, a PE ratio of -8.30 and a beta of 0.90. The firm has a 50-day moving average price of $33.32 and a two-hundred day moving average price of $30.41.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its 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 firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.80 million. On average, research analysts predict that Celldex Therapeutics will post -4.36 EPS for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

Several institutional investors have recently bought and sold shares of CLDX. Wilmington Savings Fund Society FSB acquired a new stake in Celldex Therapeutics in the 3rd quarter valued at $42,000. Russell Investments Group Ltd. raised its stake in Celldex Therapeutics by 27.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company's stock valued at $47,000 after acquiring an additional 501 shares during the period. Quantbot Technologies LP acquired a new position in shares of Celldex Therapeutics in the third quarter valued at $63,000. Kestra Advisory Services LLC acquired a new position in Celldex Therapeutics in the 4th quarter valued at about $98,000. Finally, Headlands Technologies LLC acquired a new position in shares of Celldex Therapeutics in the second quarter valued at approximately $125,000.

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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