Brokerages Set Celldex Therapeutics, Inc. (NASDAQ:CLDX) PT at $56.08

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $56.0833.

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald dropped their price objective on shares of Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Canaccord Genuity Group cut their price objective on Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Wells Fargo & Company boosted their target price on shares of Celldex Therapeutics from $48.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Guggenheim upped their price target on Celldex Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Friday, July 17th.

Celldex Therapeutics Trading Up 0.5%

Shares of CLDX stock opened at $40.57 on Thursday. The firm’s fifty day simple moving average is $37.89 and its 200 day simple moving average is $32.86. Celldex Therapeutics has a 1 year low of $21.33 and a 1 year high of $45.14. The firm has a market capitalization of $3.19 billion, a P/E ratio of -9.33 and a beta of 0.87.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.12. The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.73 million. Equities research analysts anticipate that Celldex Therapeutics will post -4.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in shares of Celldex Therapeutics by 11.5% in the 2nd quarter. Wellington Management Group LLP now owns 9,543,671 shares of the biopharmaceutical company’s stock valued at $355,120,000 after acquiring an additional 983,195 shares during the period. Vanguard Group Inc. grew its holdings in shares of Celldex Therapeutics by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 4,027,407 shares of the biopharmaceutical company’s stock valued at $109,384,000 after buying an additional 72,817 shares during the period. Bellevue Group AG grew its stake in Celldex Therapeutics by 7.6% in the third quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company’s stock valued at $92,037,000 after acquiring an additional 250,100 shares during the period. Commodore Capital LP grew its stake in Celldex Therapeutics by 7.8% in the second quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company’s stock valued at $70,208,000 after acquiring an additional 250,000 shares during the period. Finally, State Street Corp grew its stake in Celldex Therapeutics by 19.5% in the fourth quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock valued at $92,282,000 after acquiring an additional 555,579 shares during the period.

About Celldex Therapeutics

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.