Celldex Therapeutics (NASDAQ:CLDX) Now Covered by Morgan Stanley

Equities researchers at Morgan Stanley assumed coverage on shares of Celldex Therapeutics (NASDAQ:CLDX) in a note issued to investors on Thursday, MarketBeat reports. The firm set an “overweight” rating and a $46.00 price target on the biopharmaceutical company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 130.58% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. The Goldman Sachs Group reduced their target price on shares of Celldex Therapeutics from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a report on Wednesday, January 29th. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a research report on Friday, February 28th. Finally, UBS Group initiated coverage on Celldex Therapeutics in a report on Thursday, February 13th. They set a “buy” rating and a $44.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.33.

Celldex Therapeutics Trading Up 0.3 %

Shares of Celldex Therapeutics stock opened at $19.95 on Thursday. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -7.76 and a beta of 1.76. Celldex Therapeutics has a twelve month low of $18.61 and a twelve month high of $47.00. The business’s 50 day simple moving average is $22.44 and its 200-day simple moving average is $27.45.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.02. Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. The firm had revenue of $1.18 million for the quarter, compared to analyst estimates of $1.25 million. Sell-side analysts predict that Celldex Therapeutics will post -2.48 earnings per share for the current year.

Institutional Trading of Celldex Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. KBC Group NV increased its position in shares of Celldex Therapeutics by 31.2% in the third quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock worth $71,000 after acquiring an additional 495 shares in the last quarter. Jennison Associates LLC boosted its stake in Celldex Therapeutics by 32.0% in the 3rd quarter. Jennison Associates LLC now owns 1,324,410 shares of the biopharmaceutical company’s stock worth $45,017,000 after purchasing an additional 321,325 shares during the period. Intech Investment Management LLC purchased a new position in Celldex Therapeutics during the 3rd quarter worth approximately $871,000. Charles Schwab Investment Management Inc. raised its stake in Celldex Therapeutics by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 538,856 shares of the biopharmaceutical company’s stock valued at $18,316,000 after purchasing an additional 8,413 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Celldex Therapeutics by 210.6% in the third quarter. Fisher Asset Management LLC now owns 374,352 shares of the biopharmaceutical company’s stock valued at $12,724,000 after purchasing an additional 253,808 shares in the last quarter.

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.