Celldex Therapeutics, Inc. (NASDAQ:CLDX) Receives $44.10 Consensus Target Price from Brokerages

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $44.10.

A number of research analysts recently weighed in on CLDX shares. Mizuho assumed coverage on Celldex Therapeutics in a report on Tuesday, October 21st. They issued an “outperform” rating and a $48.00 target price on the stock. Barclays lifted their price objective on Celldex Therapeutics from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, December 17th. Canaccord Genuity Group reissued a “buy” rating and set a $62.00 target price on shares of Celldex Therapeutics in a research report on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, October 8th.

Insiders Place Their Bets

In related news, insider Richard M. Wright sold 49,298 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $24.00, for a total value of $1,183,152.00. Following the completion of the sale, the insider directly owned 20,833 shares in the company, valued at approximately $499,992. This represents a 70.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Celldex Therapeutics by 1.6% during 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 buying an additional 680 shares during the period. Millennium Management LLC raised its stake in shares of Celldex Therapeutics by 327.3% during the first quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company’s stock valued at $7,259,000 after purchasing an additional 306,330 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Celldex Therapeutics by 12.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,296 shares of the biopharmaceutical company’s stock valued at $2,383,000 after purchasing an additional 14,979 shares during the period. Rhumbline Advisers lifted its position in shares of Celldex Therapeutics by 6.9% during the first quarter. Rhumbline Advisers now owns 98,266 shares of the biopharmaceutical company’s stock worth $1,784,000 after purchasing an additional 6,327 shares in the last quarter. Finally, Mirador Capital Partners LP boosted its stake in shares of Celldex Therapeutics by 24.1% in the second quarter. Mirador Capital Partners LP now owns 158,717 shares of the biopharmaceutical company’s stock valued at $3,230,000 after purchasing an additional 30,843 shares during the period.

Celldex Therapeutics Price Performance

Shares of CLDX stock opened at $27.35 on Wednesday. The firm’s 50-day simple moving average is $26.27 and its 200-day simple moving average is $24.72. Celldex Therapeutics has a 1-year low of $14.40 and a 1-year high of $30.50. The firm has a market cap of $1.82 billion, a P/E ratio of -8.09 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Monday, November 10th. The biopharmaceutical company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.13). Celldex Therapeutics had a negative return on equity of 33.22% and a negative net margin of 3,446.88%. Analysts expect that Celldex Therapeutics will post -2.48 earnings per share for the current fiscal year.

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.