Celldex Therapeutics, Inc. (NASDAQ:CLDX) Stock Has Average Target Price of $63.08

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) have been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $63.08.

A number of analysts have recently commented on the stock. Leerink Partners boosted their price objective on shares of Celldex Therapeutics from $70.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 23rd. Morgan Stanley raised their target price on shares of Celldex Therapeutics from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, September 23rd. Stifel Nicolaus set a $68.00 target price on shares of Celldex Therapeutics in a research report on Tuesday, September 22nd. Cantor Fitzgerald lifted their price target on shares of Celldex Therapeutics from $61.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, September 22nd. Finally, Wall Street Zen raised shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th.

Hedge Funds Weigh In On Celldex Therapeutics

Several hedge funds have recently modified their holdings of CLDX. Wellington Management Group LLP increased its holdings in Celldex Therapeutics by 11.5% during the second quarter. Wellington Management Group LLP now owns 9,543,671 shares of the biopharmaceutical company’s stock worth $355,120,000 after buying an additional 983,195 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Celldex Therapeutics by 438.3% during the second quarter. Assenagon Asset Management S.A. now owns 788,696 shares of the biopharmaceutical company’s stock worth $29,347,000 after acquiring an additional 642,171 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Celldex Therapeutics by 62.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,059,534 shares of the biopharmaceutical company’s stock valued at $33,596,000 after acquiring an additional 407,818 shares during the last quarter. Eversept Partners LP lifted its stake in Celldex Therapeutics by 24.6% in the first quarter. Eversept Partners LP now owns 1,788,016 shares of the biopharmaceutical company’s stock valued at $56,716,000 after acquiring an additional 353,291 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Celldex Therapeutics by 70.8% in the first quarter. Bank of America Corp DE now owns 708,647 shares of the biopharmaceutical company’s stock valued at $22,478,000 after acquiring an additional 293,759 shares during the last quarter.

Celldex Therapeutics Stock Performance

Shares of Celldex Therapeutics stock opened at $28.27 on Tuesday. The firm has a market cap of $2.22 billion, a PE ratio of -6.50 and a beta of 1.04. The business’s 50 day simple moving average is $33.14 and its 200 day simple moving average is $32.65. Celldex Therapeutics has a 52-week low of $22.10 and a 52-week high of $45.14.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.06. The firm had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.72 million. As a group, equities research analysts predict that Celldex Therapeutics will post -4.17 EPS for the current year.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing targeted therapeutics for diseases with significant unmet medical needs. The company uses antibody-based technologies to develop treatments intended to modulate the immune system and address inflammatory, autoimmune and other serious conditions.

Celldex’s lead investigational product is barzolvolimab, an antibody designed to selectively block the KIT receptor and reduce mast-cell activity.