Celldex Therapeutics, Inc. (NASDAQ:CLDX) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on Celldex Therapeutics, with 10 buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $56.42, above the stock’s reported $36.90 price.
• Celldex reported quarterly EPS of -$0.94, beating the consensus estimate of -$1.06, although revenue of $0.02 million fell short of the $0.73 million estimate. Analysts expect a full-year loss of approximately $4.17 per share.
• Several institutional investors increased their positions, including California State Teachers’ Retirement System, Wellington Management and Vestal Point Capital. Celldex’s lead candidate, barzolvolimab, is being developed for immune-mediated diseases such as chronic spontaneous urticaria and prurigo nodularis.

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the thirteen research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $56.4167.

CLDX has been the subject of a number of recent research reports. Canaccord Genuity Group dropped their price objective on shares of Celldex Therapeutics from $62.00 to $60.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Guggenheim upped their target price on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, July 20th. Morgan Stanley upped their target price on shares of Celldex Therapeutics from $46.00 to $50.00 and gave the company an "overweight" rating in a research note on Thursday. Barclays raised their price target 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. Finally, Wall Street Zen raised Celldex Therapeutics from a "strong sell" rating to a "sell" rating in a report on Sunday, July 12th.

Celldex Therapeutics Stock Performance

CLDX opened at $36.90 on Monday. The stock has a market cap of $2.90 billion, a PE ratio of -8.48 and a beta of 0.84. Celldex Therapeutics has a 1 year low of $22.10 and a 1 year high of $45.14. The stock's 50 day simple moving average is $39.16 and its 200-day simple moving average is $34.41.

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

Hedge Funds Weigh In On Celldex Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CLDX. California State Teachers Retirement System lifted its holdings in Celldex Therapeutics by 3,531.9% during the 2nd quarter. California State Teachers Retirement System now owns 2,892,073 shares of the biopharmaceutical company's stock valued at $107,614,000 after purchasing an additional 2,812,443 shares during the last quarter. Wellington Management Group LLP grew its stake in Celldex Therapeutics by 39.3% during the fourth quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company's stock worth $219,442,000 after buying an additional 2,279,605 shares during the last quarter. Vestal Point Capital LP increased its holdings in shares of Celldex Therapeutics by 781.0% during the second quarter. Vestal Point Capital LP now owns 1,750,000 shares of the biopharmaceutical company's stock worth $35,612,000 after buying an additional 1,551,354 shares in the last quarter. Braidwell LP increased its holdings in shares of Celldex Therapeutics by 214.0% during the fourth quarter. Braidwell LP now owns 1,858,109 shares of the biopharmaceutical company's stock worth $50,466,000 after buying an additional 1,266,420 shares in the last quarter. Finally, Elmind Capital LP bought a new position in shares of Celldex Therapeutics in the fourth quarter valued at approximately $23,493,000.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for diseases with significant unmet medical needs. The company's research programs address conditions in immunology, inflammation, oncology and other areas where targeted immune-system modulation may provide therapeutic benefits.

Celldex's lead investigational product is barzolvolimab, an antibody designed to block the KIT receptor and reduce mast cells. The therapy is being studied in immune-mediated diseases, including chronic spontaneous urticaria and prurigo nodularis.

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