Celldex Therapeutics (NASDAQ:CLDX) Hits New 1-Year High – Time to Buy?

Celldex Therapeutics, Inc. (NASDAQ:CLDX) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $39.70 and last traded at $39.5490, with a volume of 469221 shares. The stock had previously closed at $37.95.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wolfe Research raised Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research report on Monday, March 23rd. UBS Group lifted their price objective on Celldex Therapeutics from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Wells Fargo & Company raised their price target on shares of Celldex Therapeutics from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $49.30.

Celldex Therapeutics Stock Up 5.3%

The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -9.44 and a beta of 0.90. The firm has a fifty day moving average price of $32.48 and a 200-day moving average price of $29.66.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.80 million. Equities research analysts anticipate that Celldex Therapeutics, Inc. will post -4.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in Celldex Therapeutics by 27.6% in the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 501 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Celldex Therapeutics by 1.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock valued at $798,000 after purchasing an additional 680 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Celldex Therapeutics by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 11,973 shares of the biopharmaceutical company’s stock valued at $325,000 after buying an additional 773 shares during the period. Panagora Asset Management Inc. grew its stake in shares of Celldex Therapeutics by 7.5% during the 4th quarter. Panagora Asset Management Inc. now owns 21,856 shares of the biopharmaceutical company’s stock valued at $594,000 after buying an additional 1,522 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Celldex Therapeutics during the 3rd quarter worth $42,000.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company’s research platforms leverage novel antibody and vaccine technologies designed to engage the patient’s immune system, with a particular emphasis on oncology and neurologic indications. Celldex’s pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex’s lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.