Celldex Therapeutics (NASDAQ:CLDX) Now Covered by Analysts at Barclays

Key Points

• Barclays has initiated coverage on Celldex Therapeutics with an "underweight" rating and a price target of $25.00, implying potential downside from its current price.
• Current consensus among analysts rates the stock as a "Moderate Buy," with a target price of $43.78, reflecting mixed opinions including several "buy," "hold," and "sell" ratings.
• In its latest quarterly report, Celldex posted earnings of ($0.85) per share, slightly beating expectations but showing significant challenges with a negative net margin of 3,446.88%.

Equities researchers at Barclays began coverage on shares of Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) in a report issued on Monday,Benzinga reports. The firm set an "underweight" rating and a $25.00 price target on the biopharmaceutical company's stock. Barclays's target price would indicate a potential downside of 6.61% from the company's current price.

Several other analysts also recently issued reports on CLDX. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $62.00 price objective on shares of Celldex Therapeutics in a research report on Wednesday, September 17th. Wells Fargo & Company reduced their target price 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 lowered their price target on Celldex Therapeutics from $56.00 to $48.00 and set a "buy" rating on the stock in a research report on Wednesday, August 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of Celldex Therapeutics in a research note on Wednesday, October 8th. Finally, HC Wainwright reduced their target price on Celldex Therapeutics from $50.00 to $42.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.78.

Celldex Therapeutics Price Performance

NASDAQ:CLDX opened at $26.77 on Monday. The firm has a market capitalization of $1.78 billion, a P/E ratio of -8.89 and a beta of 1.33. The company's fifty day moving average price is $24.01 and its 200-day moving average price is $21.50. Celldex Therapeutics has a 1-year low of $14.40 and a 1-year high of $31.66.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its quarterly earnings results 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 net margin of 3,446.88% and a negative return on equity of 27.61%. The business had revenue of $0.73 million during the quarter, compared to analysts' expectations of $1.13 million. Equities analysts anticipate that Celldex Therapeutics will post -2.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in shares of Celldex Therapeutics by 171.7% during the second quarter. Nisa Investment Advisors LLC now owns 1,394 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 881 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Celldex Therapeutics by 27.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company's stock worth $47,000 after purchasing an additional 501 shares during the period. GAMMA Investing LLC lifted its holdings in Celldex Therapeutics by 6,665.9% during the 1st quarter. GAMMA Investing LLC now owns 2,977 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 2,933 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Celldex Therapeutics in the 2nd quarter valued at $125,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Celldex Therapeutics by 289.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,247 shares of the biopharmaceutical company's stock valued at $147,000 after buying an additional 5,387 shares during the last quarter.

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.

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