Celldex Therapeutics, Inc. (CLDX) - What Are Analysts Saying About This Stock?

Key Points

• Analysts are broadly bullish on Celldex Therapeutics: Thirteen analysts give the stock a consensus “Moderate Buy” rating, including eleven buys, one hold and one sell. The average 12-month price target is $63.08.
• Recent firms adjusted their targets in both directions, with targets ranging from $53 to $100. Leerink Partners raised its target to $88 and Guggenheim to $100, while Canaccord lowered its target to $60.
• Institutional ownership increased among several major investors, including Wellington Management, Eversept Partners, Dimensional Fund Advisors and Assenagon Asset Management. CLDX recently traded at $29.04, below its $45.14 12-month high, while the company continues developing antibody-based therapies led by barzolvolimab.

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) has received a consensus rating of "Moderate Buy" from the thirteen analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $63.08.

A number of analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Celldex Therapeutics from $48.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Morgan Stanley raised their target price on shares of Celldex Therapeutics from $50.00 to $57.00 and gave the company an "overweight" rating in a research note on Wednesday, September 23rd. Canaccord Genuity Group dropped their target price on shares of Celldex Therapeutics from $62.00 to $60.00 and set a "buy" rating on the stock in a report on Wednesday, July 22nd. Leerink Partners boosted their target price on shares of Celldex Therapeutics from $70.00 to $88.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 23rd. Finally, Guggenheim boosted their target price on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, July 20th.

Hedge Funds Weigh In On Celldex Therapeutics

Several large investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in Celldex Therapeutics by 11.5% during the 2nd quarter. Wellington Management Group LLP now owns 9,543,671 shares of the biopharmaceutical company's stock valued at $355,120,000 after purchasing an additional 983,195 shares during the period. Commodore Capital LP increased its position in Celldex Therapeutics by 5.1% in the 1st quarter. Commodore Capital LP now owns 2,696,616 shares of the biopharmaceutical company's stock worth $85,537,000 after buying an additional 131,616 shares during the period. Eversept Partners LP lifted its holdings in shares of Celldex Therapeutics by 24.6% during the first quarter. Eversept Partners LP now owns 1,788,016 shares of the biopharmaceutical company's stock worth $56,716,000 after buying an additional 353,291 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Celldex Therapeutics by 62.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,059,534 shares of the biopharmaceutical company's stock worth $33,596,000 after buying an additional 407,818 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Celldex Therapeutics by 438.3% during the second quarter. Assenagon Asset Management S.A. now owns 788,696 shares of the biopharmaceutical company's stock worth $29,347,000 after buying an additional 642,171 shares during the last quarter.

Celldex Therapeutics Stock Performance

Shares of CLDX stock opened at $29.04 on Tuesday. The stock's 50 day simple moving average is $33.83 and its 200 day simple moving average is $32.60. Celldex Therapeutics has a twelve month low of $22.10 and a twelve month high of $45.14. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -6.68 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.06) by $0.12. The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.73 million. On average, analysts forecast that Celldex Therapeutics will post -4.17 EPS for the current fiscal year.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing targeted therapeutics for diseases with significant unmet medical needs. The company uses antibody-based technologies to develop treatments intended to modulate the immune system and address inflammatory, autoimmune and other serious conditions.

Celldex's lead investigational product is barzolvolimab, an antibody designed to selectively block the KIT receptor and reduce mast-cell activity.

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