Wolfe Research Lowers Celldex Therapeutics (NASDAQ:CLDX) to Peer Perform

Celldex Therapeutics (NASDAQ:CLDX) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a note issued to investors on Friday, MarketBeat.com reports.

A number of other brokerages also recently commented on CLDX. Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research report on Monday, September 16th. Finally, Stifel Nicolaus started coverage on Celldex Therapeutics in a research note on Tuesday, June 18th. They set a “buy” rating and a $58.00 target price for the company. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $63.83.

Celldex Therapeutics Price Performance

NASDAQ CLDX opened at $33.20 on Friday. Celldex Therapeutics has a 1-year low of $22.11 and a 1-year high of $53.18. The company has a market cap of $2.19 billion, a P/E ratio of -11.65 and a beta of 1.56. The stock has a 50-day moving average of $38.35 and a two-hundred day moving average of $38.34.

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

Institutional Investors Weigh In On Celldex Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Celldex Therapeutics during the second quarter worth approximately $76,000. Headlands Technologies LLC purchased a new stake in Celldex Therapeutics in the first quarter valued at approximately $147,000. CANADA LIFE ASSURANCE Co lifted its stake in Celldex Therapeutics by 26.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 955 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Celldex Therapeutics by 34.3% in the first quarter. Ameritas Investment Partners Inc. now owns 6,198 shares of the biopharmaceutical company’s stock valued at $260,000 after buying an additional 1,582 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Celldex Therapeutics in the first quarter valued at approximately $283,000.

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.