Analysts Set Celldex Therapeutics, Inc. (NASDAQ:CLDX) Price Target at $63.83

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has received a consensus rating of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $63.83.

Several brokerages have commented on CLDX. Wolfe Research assumed coverage on shares of Celldex Therapeutics in a report on Tuesday, June 11th. They issued an “outperform” rating and a $51.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research report on Monday, September 16th. Wells Fargo & Company increased their target price on Celldex Therapeutics from $35.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Stifel Nicolaus initiated coverage on Celldex Therapeutics in a report on Tuesday, June 18th. They set a “buy” rating and a $58.00 price target on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Celldex Therapeutics in a research note on Monday, August 12th.

Celldex Therapeutics Stock Down 2.6 %

CLDX opened at $40.17 on Thursday. The firm has a market cap of $2.65 billion, a PE ratio of -14.09 and a beta of 1.56. The business has a fifty day simple moving average of $38.55 and a 200-day simple moving average of $38.54. Celldex Therapeutics has a fifty-two week low of $22.11 and a fifty-two week high of $53.18.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.05. The business had revenue of $2.50 million during the quarter, compared to analyst estimates of $1.13 million. Celldex Therapeutics had a negative return on equity of 23.66% and a negative net margin of 1,809.18%. On average, equities research analysts anticipate that Celldex Therapeutics will post -2.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Celldex Therapeutics by 631.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock valued at $129,571,000 after buying an additional 2,664,915 shares during the last quarter. Eventide Asset Management LLC raised its position in Celldex Therapeutics by 126.9% during the fourth quarter. Eventide Asset Management LLC now owns 3,630,013 shares of the biopharmaceutical company’s stock valued at $143,966,000 after acquiring an additional 2,030,013 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Celldex Therapeutics by 105.3% in the fourth quarter. Point72 Asset Management L.P. now owns 2,756,122 shares of the biopharmaceutical company’s stock valued at $109,308,000 after acquiring an additional 1,413,722 shares during the last quarter. Wellington Management Group LLP grew its position in Celldex Therapeutics by 19.2% in the fourth quarter. Wellington Management Group LLP now owns 6,476,561 shares of the biopharmaceutical company’s stock worth $256,860,000 after acquiring an additional 1,044,728 shares in the last quarter. Finally, Novo Holdings A S acquired a new position in shares of Celldex Therapeutics during the 2nd quarter worth $31,458,000.

About Celldex Therapeutics

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.