Citigroup Initiates Coverage on Celldex Therapeutics (NASDAQ:CLDX)

Equities researchers at Citigroup began coverage on shares of Celldex Therapeutics (NASDAQ:CLDX) in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $70.00 price target on the biopharmaceutical company’s stock. Citigroup’s price objective would indicate a potential upside of 129.13% from the stock’s previous close.

Several other analysts also recently weighed in on CLDX. The Goldman Sachs Group assumed coverage on shares of Celldex Therapeutics in a research report on Monday, September 30th. They issued a “neutral” rating and a $45.00 price objective on the stock. Stifel Nicolaus assumed coverage on Celldex Therapeutics in a research report on Tuesday, June 18th. They set a “buy” rating and a $58.00 price objective for the company. Wolfe Research cut Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 27th. Wells Fargo & Company upgraded Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.25.

Celldex Therapeutics Stock Performance

Shares of NASDAQ:CLDX opened at $30.55 on Monday. The company’s fifty day moving average is $37.22 and its two-hundred day moving average is $37.81. Celldex Therapeutics has a 1-year low of $22.11 and a 1-year high of $53.18. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -10.72 and a beta of 1.55.

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

Institutional Investors Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CLDX. Arizona State Retirement System boosted its stake in shares of Celldex Therapeutics by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 16,231 shares of the biopharmaceutical company’s stock worth $601,000 after acquiring an additional 325 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Celldex Therapeutics by 9.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 7,371 shares of the biopharmaceutical company’s stock worth $273,000 after purchasing an additional 638 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Celldex Therapeutics by 26.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 955 shares during the period. Principal Financial Group Inc. lifted its stake in Celldex Therapeutics by 10.0% during the first quarter. Principal Financial Group Inc. now owns 13,153 shares of the biopharmaceutical company’s stock valued at $552,000 after buying an additional 1,194 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Celldex Therapeutics by 6.2% in the fourth quarter. Fisher Asset Management LLC now owns 21,812 shares of the biopharmaceutical company’s stock worth $865,000 after buying an additional 1,274 shares during the period.

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.