Celldex Therapeutics (NASDAQ:CLDX) Trading Up 7.2% - Should You Buy?

Key Points

• Celldex Therapeutics' stock surged 7.2% to a last traded price of $21.45 on a day with significantly lower trading volume.
• Analysts have varying ratings on the stock, with the average price target being $50.11, indicating a generally positive outlook despite some recent downgrades.
• The company reported a quarterly loss of ($0.85) earnings per share, slightly beating analysts' estimates, but with revenues falling short of expectations at $0.73 million.

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report)'s stock price shot up 7.2% during trading on Tuesday . The company traded as high as $20.41 and last traded at $21.45. 10,010 shares traded hands during trading, a decline of 99% from the average session volume of 926,852 shares. The stock had previously closed at $20.01.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CLDX. Canaccord Genuity Group began coverage on shares of Celldex Therapeutics in a report on Monday, April 28th. They set a "buy" rating and a $64.00 price target on the stock. The Goldman Sachs Group cut their price target on shares of Celldex Therapeutics from $36.00 to $31.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. UBS Group cut their price target on shares of Celldex Therapeutics from $44.00 to $38.00 and set a "buy" rating on the stock in a report on Friday, May 9th. HC Wainwright reiterated a "buy" rating and set a $50.00 price target on shares of Celldex Therapeutics in a report on Friday, June 13th. Finally, Morgan Stanley cut their price target on shares of Celldex Therapeutics from $46.00 to $43.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $50.11.

Celldex Therapeutics Stock Performance

The firm has a fifty day moving average price of $21.54 and a two-hundred day moving average price of $20.66. The stock has a market capitalization of $1.52 billion, a P/E ratio of -7.56 and a beta of 1.22.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.01. The firm had revenue of $0.73 million for the quarter, compared to analysts' expectations of $1.13 million. Celldex Therapeutics had a negative return on equity of 27.61% and a negative net margin of 3,446.88%. On average, research analysts anticipate that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CLDX. JPMorgan Chase & Co. raised its position in Celldex Therapeutics by 103.3% in the fourth quarter. JPMorgan Chase & Co. now owns 85,545 shares of the biopharmaceutical company's stock worth $2,162,000 after acquiring an additional 43,470 shares during the period. Invesco Ltd. grew its stake in Celldex Therapeutics by 2.1% during the fourth quarter. Invesco Ltd. now owns 42,101 shares of the biopharmaceutical company's stock valued at $1,064,000 after acquiring an additional 871 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Celldex Therapeutics in the fourth quarter worth about $3,452,000. Barclays PLC boosted its holdings in shares of Celldex Therapeutics by 9.6% in the 4th quarter. Barclays PLC now owns 142,914 shares of the biopharmaceutical company's stock worth $3,611,000 after purchasing an additional 12,533 shares during the period. Finally, Guggenheim Capital LLC bought a new position in Celldex Therapeutics during the fourth quarter valued at $601,000.

Celldex Therapeutics Company Profile

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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