Celldex Therapeutics (NASDAQ:CLDX) Price Target Raised to $54.00

Celldex Therapeutics (NASDAQ:CLDX) had its price target lifted by equities research analysts at Wells Fargo & Company from $38.00 to $54.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 67.08% from the stock’s previous close.

Several other brokerages have also recently issued reports on CLDX. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price target (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. Wall Street Zen upgraded Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday. Wolfe Research raised shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Monday, March 23rd. The Goldman Sachs Group boosted their target price on Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Celldex Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $49.78.

Celldex Therapeutics Stock Up 1.0%

NASDAQ CLDX opened at $32.32 on Wednesday. The stock’s 50-day simple moving average is $31.82 and its two-hundred day simple moving average is $27.98. Celldex Therapeutics has a twelve month low of $18.47 and a twelve month high of $35.79. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -7.53 and a beta of 0.98.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.03). The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.80 million. On average, equities analysts expect that Celldex Therapeutics will post -4.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of Celldex Therapeutics during the third quarter valued at approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in Celldex Therapeutics during the 3rd quarter valued at $42,000. Russell Investments Group Ltd. increased its stake in shares of Celldex Therapeutics by 27.6% during the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 501 shares during the period. Quantbot Technologies LP bought a new stake in shares of Celldex Therapeutics in the third quarter valued at about $63,000. Finally, Strs Ohio bought a new stake in shares of Celldex Therapeutics in the third quarter valued at about $75,000.

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.