Celldex Therapeutics (NASDAQ:CLDX) Reaches New 1-Year High - Time to Buy?

Key Points

• Celldex shares reached a new 52-week high, trading as high as $43.21 and closing the session up about 3%. The stock’s average analyst rating is “Moderate Buy,” with a consensus price target of $55.46.
• Analyst sentiment is generally positive, with several firms raising price targets; Wells Fargo gave the most optimistic target at $72. However, Weiss Ratings maintained a “sell” rating, highlighting some disagreement.
• Celldex beat quarterly EPS expectations, reporting a loss of $0.94 per share versus the expected $1.06 loss, though revenue was just $0.02 million. Institutional investors, including Assenagon Asset Management, significantly increased their holdings.

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $43.21 and last traded at $42.97, with a volume of 727630 shares traded. The stock had previously closed at $41.71.

Analyst Upgrades and Downgrades

CLDX has been the topic of several recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Celldex Therapeutics in a report on Friday, July 17th. Cantor Fitzgerald reduced their target price on Celldex Therapeutics from $67.00 to $61.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. UBS Group boosted their price target on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. Morgan Stanley increased their price objective on shares of Celldex Therapeutics from $40.00 to $46.00 and gave the company an "overweight" rating in a research note on Friday. Finally, Wells Fargo & Company upped their target price on shares of Celldex Therapeutics from $48.00 to $72.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Celldex Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $55.46.

Celldex Therapeutics Stock Up 3.0%

The company's fifty day moving average price is $35.45 and its two-hundred day moving average price is $31.70. The company has a market cap of $3.37 billion, a price-to-earnings ratio of -9.88 and a beta of 0.87.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.12. The business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.73 million. Research analysts forecast that Celldex Therapeutics, Inc. will post -4.36 earnings per share for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of institutional investors have recently modified their holdings of CLDX. Bank of New York Mellon Corp acquired a new stake in shares of Celldex Therapeutics in the second quarter valued at approximately $8,342,000. Handelsbanken Fonder AB boosted its position in Celldex Therapeutics by 5.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 27,200 shares of the biopharmaceutical company's stock valued at $1,012,000 after buying an additional 1,300 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in Celldex Therapeutics by 438.3% in the 2nd 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 last quarter. Apella Capital LLC increased its stake in shares of Celldex Therapeutics by 56.6% in the 2nd 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. Finally, Mirador Capital Partners LP lifted its stake in shares of 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 acquiring an additional 3,001 shares during the period.

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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