Canaccord Genuity Group Initiates Coverage on Celldex Therapeutics (NASDAQ:CLDX)

Canaccord Genuity Group began coverage on shares of Celldex Therapeutics (NASDAQ:CLDX - Free Report) in a research report released on Monday morning, Marketbeat reports. The firm issued a buy rating and a $64.00 target price on the biopharmaceutical company's stock.

Several other research analysts also recently weighed in on CLDX. UBS Group initiated coverage on Celldex Therapeutics in a research note on Thursday, February 13th. They set a "buy" rating and a $44.00 price target for the company. HC Wainwright reiterated a "buy" rating and set a $80.00 price target on shares of Celldex Therapeutics in a research report on Friday, February 28th. Morgan Stanley started coverage on shares of Celldex Therapeutics in a research report on Thursday, March 20th. They issued an "overweight" rating and a $46.00 price objective for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a research report on Wednesday, January 29th. Finally, The Goldman Sachs Group cut their price objective on shares of Celldex Therapeutics from $42.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $55.30.

Celldex Therapeutics Stock Performance

NASDAQ:CLDX traded down $0.12 during trading on Monday, reaching $20.71. The company's stock had a trading volume of 621,747 shares, compared to its average volume of 883,752. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -8.06 and a beta of 1.59. The firm has a 50 day moving average of $19.11 and a 200-day moving average of $23.34. Celldex Therapeutics has a 12 month low of $14.40 and a 12 month high of $47.00.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last posted its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.02. The company had revenue of $1.18 million during the quarter, compared to the consensus estimate of $1.25 million. Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. Equities research analysts forecast that Celldex Therapeutics will post -2.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Celldex Therapeutics by 215.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 878 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Celldex Therapeutics by 6,665.9% in the 1st quarter. GAMMA Investing LLC now owns 2,977 shares of the biopharmaceutical company's stock worth $54,000 after acquiring an additional 2,933 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Celldex Therapeutics in the 4th quarter worth approximately $81,000. KBC Group NV lifted its holdings in shares of Celldex Therapeutics by 79.1% in the 4th quarter. KBC Group NV now owns 3,728 shares of the biopharmaceutical company's stock worth $94,000 after acquiring an additional 1,647 shares during the last quarter. Finally, AlphaQuest LLC increased its stake in shares of Celldex Therapeutics by 171.0% in the fourth quarter. AlphaQuest LLC now owns 4,287 shares of the biopharmaceutical company's stock worth $108,000 after buying an additional 2,705 shares during the period.

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.