Celldex Therapeutics (NASDAQ:CLDX) Sets New 52-Week High - Time to Buy?

Key Points

• Celldex shares reached a new 52-week high of $40.30, up 2.9%, with the stock trading above both its 50-day and 200-day moving averages.
• Analysts remain broadly positive, with a “Moderate Buy” consensus from MarketBeat and an average price target of $54.62, despite some recent target reductions.
• The company reported a quarterly EPS loss of $1.18, slightly worse than estimates, and analysts expect a full-year loss of $4.36 per share; Celldex remains a clinical-stage biopharmaceutical focused on targeted immunotherapies.

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $40.30 and last traded at $40.27, with a volume of 220780 shares traded. The stock had previously closed at $39.05.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CLDX. Cantor Fitzgerald lowered their target price on shares of Celldex Therapeutics from $67.00 to $61.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. Barclays raised their price objective on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Wells Fargo & Company lifted their price objective on Celldex Therapeutics from $48.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Morgan Stanley dropped their target price on Celldex Therapeutics from $44.00 to $40.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 22nd. Finally, HC Wainwright reissued a "buy" rating and set a $42.00 target price on shares of Celldex Therapeutics in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $54.62.

Celldex Therapeutics Stock Up 2.9%

The stock's fifty day simple moving average is $34.60 and its 200-day simple moving average is $31.24. The company has a market capitalization of $3.16 billion, a PE ratio of -9.44 and a beta of 0.87.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.80 million. Analysts expect that Celldex Therapeutics, Inc. will post -4.36 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC increased its position in Celldex Therapeutics by 143.2% during the fourth quarter. SG Americas Securities LLC now owns 47,340 shares of the biopharmaceutical company's stock worth $1,286,000 after buying an additional 27,872 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Celldex Therapeutics in the third quarter worth $818,000. Seven Fleet Capital Management LP purchased a new stake in shares of Celldex Therapeutics in the first quarter valued at $929,000. PSP Research LLC purchased a new stake in shares of Celldex Therapeutics in the fourth quarter valued at $553,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Celldex Therapeutics during the first quarter valued at $1,433,000.

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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