Celldex Therapeutics, Inc. (NASDAQ:CLDX) Stock Has Average Price Target of $61.92 According to Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Celldex Therapeutics, with 11 buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $61.92, well above the reported $29.30 share price.
• Celldex reported a quarterly loss of $0.94 per share, beating the consensus estimate of a $1.06 loss, although revenue of $0.02 million fell short of the $0.73 million forecast. Analysts expect a full-year loss of approximately $4.17 per share.
• The clinical-stage biopharmaceutical company is developing antibody-based therapies, led by barzolvolimab, an investigational treatment targeting the KIT receptor on mast cells; several institutional investors recently increased their holdings.

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the fourteen analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $61.92.

A number of equities analysts have recently weighed in on the stock. Guggenheim boosted their price objective on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Wall Street Zen upgraded shares of Celldex Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Sunday, July 12th. Leerink Partners lifted their target price on shares of Celldex Therapeutics from $70.00 to $88.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 23rd. Morgan Stanley boosted their price target on Celldex Therapeutics from $50.00 to $57.00 and gave the company an "overweight" rating in a report on Wednesday, September 23rd. Finally, Canaccord Genuity Group reduced their price target on Celldex Therapeutics from $62.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd.

Celldex Therapeutics Stock Down 3.7%

CLDX opened at $29.30 on Friday. The firm has a market cap of $2.30 billion, a P/E ratio of -6.74 and a beta of 0.90. Celldex Therapeutics has a 52 week low of $22.10 and a 52 week high of $45.14. The business's fifty day simple moving average is $37.90 and its 200 day simple moving average is $34.95.

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 for the quarter, beating the consensus estimate of ($1.06) by $0.12. The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.73 million. As a group, equities analysts expect that Celldex Therapeutics will post -4.17 EPS for the current fiscal year.

Institutional Trading of Celldex Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB boosted its position in shares of Celldex Therapeutics by 5.0% in the second quarter. Handelsbanken Fonder AB now owns 27,200 shares of the biopharmaceutical company's stock worth $1,012,000 after buying an additional 1,300 shares during the period. Nykredit A S acquired a new position in Celldex Therapeutics during the 2nd quarter worth approximately $67,000. Arizona State Retirement System lifted its position in Celldex Therapeutics by 13.0% during the 2nd quarter. Arizona State Retirement System now owns 18,565 shares of the biopharmaceutical company's stock worth $691,000 after acquiring an additional 2,139 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Celldex Therapeutics by 3.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 77,772 shares of the biopharmaceutical company's stock worth $2,467,000 after acquiring an additional 2,642 shares during the period. Finally, Mirador Capital Partners LP boosted its holdings in Celldex Therapeutics by 1.7% in the 2nd quarter. Mirador Capital Partners LP now owns 181,054 shares of the biopharmaceutical company's stock worth $6,737,000 after acquiring an additional 3,001 shares during the period.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapies for diseases with significant unmet medical needs. The company's research programs target mast cell–mediated disorders, inflammatory diseases, and cancer, using engineered antibodies designed to modulate specific immune-system pathways.

Celldex's lead product candidate is barzolvolimab, an investigational monoclonal antibody that targets the KIT receptor on mast cells.

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