Celldex Therapeutics (NASDAQ:CLDX) Trading Up 9% - Still a Buy?

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) shares were up 9% during mid-day trading on Friday . The company traded as high as $24.03 and last traded at $22.19. Approximately 884,115 shares were traded during trading, a decline of 5% from the average daily volume of 928,196 shares. The stock had previously closed at $20.35.

Analysts Set New Price Targets

CLDX has been the subject of several research reports. UBS Group reduced their price target on shares of Celldex Therapeutics from $44.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, May 9th. The Goldman Sachs Group dropped their target price on Celldex Therapeutics from $36.00 to $31.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. HC Wainwright reissued a "buy" rating and set a $50.00 price target on shares of Celldex Therapeutics in a report on Friday. Morgan Stanley reduced their price target on Celldex Therapeutics from $46.00 to $43.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Finally, Canaccord Genuity Group assumed coverage on Celldex Therapeutics in a report on Monday, April 28th. They set a "buy" rating and a $64.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $50.90.

Celldex Therapeutics Trading Down 4.3%

The company has a 50 day moving average price of $19.43 and a 200 day moving average price of $21.71. The firm has a market cap of $1.35 billion, a PE ratio of -7.91 and a beta of 1.33.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. The firm had revenue of $0.70 million for the quarter, compared to analyst estimates of $1.08 million. As a group, equities research analysts anticipate that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in shares of Celldex Therapeutics by 215.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 878 shares during the last quarter. GAMMA Investing LLC lifted its stake in Celldex Therapeutics by 6,665.9% in the 1st quarter. GAMMA Investing LLC now owns 2,977 shares of the biopharmaceutical company's stock valued at $54,000 after buying an additional 2,933 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Celldex Therapeutics during the 4th quarter valued at $81,000. AlphaQuest LLC increased its position in Celldex Therapeutics by 171.0% during 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 in the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in Celldex Therapeutics during the fourth quarter worth $121,000.

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.