Celldex Therapeutics (NASDAQ:CLDX) Price Target Raised to $37.00

Celldex Therapeutics (NASDAQ:CLDX) had its price objective upped by equities research analysts at Wells Fargo & Company from $35.00 to $37.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 11.61% from the stock’s current price.

A number of other analysts have also issued reports on the company. Stifel Nicolaus initiated coverage on Celldex Therapeutics in a report on Tuesday, June 18th. They issued a “buy” rating and a $58.00 target price for the company. Wolfe Research started coverage on Celldex Therapeutics in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $51.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a report on Tuesday, July 30th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a report on Monday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.83.

Celldex Therapeutics Stock Up 0.7 %

Shares of CLDX stock traded up $0.23 during trading hours on Monday, hitting $33.15. 124,341 shares of the company were exchanged, compared to its average volume of 784,519. Celldex Therapeutics has a 1 year low of $22.11 and a 1 year high of $53.18. The firm has a fifty day moving average of $36.55 and a 200 day moving average of $38.85. The firm has a market cap of $2.18 billion, a PE ratio of -11.59 and a beta of 1.58.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.05. Celldex Therapeutics had a negative net margin of 2,385.57% and a negative return on equity of 29.55%. The firm had revenue of $2.50 million for the quarter, compared to analyst estimates of $1.13 million. Analysts expect that Celldex Therapeutics will post -2.39 earnings per share for the current year.

Insider Activity

In other news, VP Richard M. Wright sold 46,844 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $33.72, for a total value of $1,579,579.68. Following the transaction, the vice president now directly owns 20,833 shares of the company’s stock, valued at $702,488.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Samuel Bates Martin sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $34.05, for a total value of $1,191,750.00. Following the completion of the sale, the chief financial officer now directly owns 25,128 shares in the company, valued at $855,608.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Richard M. Wright sold 46,844 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $33.72, for a total value of $1,579,579.68. Following the completion of the sale, the vice president now directly owns 20,833 shares in the company, valued at $702,488.76. The disclosure for this sale can be found here. Insiders sold a total of 266,332 shares of company stock valued at $9,155,821 over the last three months. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Celldex Therapeutics

Large investors have recently modified their holdings of the company. Arizona State Retirement System grew its holdings in shares of Celldex Therapeutics by 20.3% during the fourth quarter. Arizona State Retirement System now owns 13,758 shares of the biopharmaceutical company’s stock valued at $546,000 after buying an additional 2,322 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Celldex Therapeutics in the fourth quarter valued at approximately $994,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Celldex Therapeutics by 3.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,258 shares of the biopharmaceutical company’s stock valued at $1,041,000 after buying an additional 962 shares during the last quarter. Strs Ohio grew its holdings in Celldex Therapeutics by 92.9% during the fourth quarter. Strs Ohio now owns 2,700 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 1,300 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Celldex Therapeutics by 82.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,032 shares of the biopharmaceutical company’s stock valued at $477,000 after buying an additional 5,450 shares during the last quarter.

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.