Brokerages Set Celldex Therapeutics, Inc. (NASDAQ:CLDX) Target Price at $56.42

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has received a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $56.4167.

CLDX has been the topic of several research reports. Cantor Fitzgerald decreased their price target on shares of Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Canaccord Genuity Group dropped their price objective on shares of Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Wells Fargo & Company boosted their price objective on shares of Celldex Therapeutics from $48.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. HC Wainwright restated a “buy” rating and set a $42.00 target price on shares of Celldex Therapeutics in a research report on Monday, June 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Friday, July 17th.

Celldex Therapeutics Trading Up 0.5%

NASDAQ:CLDX opened at $38.71 on Monday. The stock has a 50 day simple moving average of $39.15 and a 200 day simple moving average of $34.62. The stock has a market cap of $3.04 billion, a P/E ratio of -8.90 and a beta of 0.84. Celldex Therapeutics has a 1-year low of $22.10 and a 1-year high of $45.14.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.94) EPS 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 analyst estimates of $0.73 million. As a group, sell-side analysts forecast that Celldex Therapeutics will post -4.17 EPS for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Nykredit A S acquired a new position in Celldex Therapeutics in the 2nd quarter valued at $67,000. Diversified Trust Co acquired a new stake in shares of Celldex Therapeutics during the 1st quarter worth $223,000. Walleye Capital LLC acquired a new stake in shares of Celldex Therapeutics during the 1st quarter worth $258,000. Amundi acquired a new stake in shares of Celldex Therapeutics during the 1st quarter worth $297,000. Finally, ProShare Advisors LLC increased its position in shares of Celldex Therapeutics by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 11,973 shares of the biopharmaceutical company’s stock worth $325,000 after purchasing an additional 773 shares during the period.

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.