Celldex Therapeutics (NASDAQ:CLDX) Price Target Raised to $50.00

Celldex Therapeutics (NASDAQ:CLDX) had its price target lifted by Morgan Stanley from $46.00 to $50.00 in a report released on Thursday,Benzinga reports. Morgan Stanley currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on the stock. UBS Group raised their target price on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Cantor Fitzgerald reduced their price target on Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Wall Street Zen raised Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Friday, July 17th. Finally, Guggenheim raised their price objective on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.42.

Celldex Therapeutics Stock Performance

Shares of Celldex Therapeutics stock opened at $36.90 on Thursday. The company has a market capitalization of $2.90 billion, a PE ratio of -8.48 and a beta of 0.84. The company has a 50-day simple moving average of $39.16 and a two-hundred day simple moving average of $34.34. Celldex Therapeutics has a one year low of $22.10 and a one year high of $45.14.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.12. The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.73 million. On average, equities analysts predict that Celldex Therapeutics will post -4.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in shares of Celldex Therapeutics by 3,531.9% during the second quarter. California State Teachers Retirement System now owns 2,892,073 shares of the biopharmaceutical company’s stock worth $107,614,000 after purchasing an additional 2,812,443 shares during the last quarter. Wellington Management Group LLP lifted its position in Celldex Therapeutics by 39.3% during the fourth quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock valued at $219,442,000 after purchasing an additional 2,279,605 shares during the period. Vestal Point Capital LP boosted its holdings in Celldex Therapeutics by 781.0% in the second quarter. Vestal Point Capital LP now owns 1,750,000 shares of the biopharmaceutical company’s stock valued at $35,612,000 after purchasing an additional 1,551,354 shares during the last quarter. Braidwell LP boosted its holdings in Celldex Therapeutics by 214.0% in the fourth quarter. Braidwell LP now owns 1,858,109 shares of the biopharmaceutical company’s stock valued at $50,466,000 after purchasing an additional 1,266,420 shares during the last quarter. Finally, Elmind Capital LP acquired a new stake in Celldex Therapeutics during the 4th quarter worth about $23,493,000.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for diseases with significant unmet medical needs. The company’s research programs address conditions in immunology, inflammation, oncology and other areas where targeted immune-system modulation may provide therapeutic benefits.

Celldex’s lead investigational product is barzolvolimab, an antibody designed to block the KIT receptor and reduce mast cells. The therapy is being studied in immune-mediated diseases, including chronic spontaneous urticaria and prurigo nodularis.