Celldex Therapeutics (NASDAQ:CLDX) Sets New 1-Year High – Still a Buy?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price reached a new 52-week high on Monday . The company traded as high as $35.92 and last traded at $34.7520, with a volume of 41264 shares. The stock had previously closed at $35.26.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CLDX. HC Wainwright reissued a “buy” rating and set a $42.00 target price on shares of Celldex Therapeutics in a research report on Monday, June 15th. The Goldman Sachs Group upped their price target on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Wolfe Research raised shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a report on Monday, March 23rd. Wells Fargo & Company boosted their price objective on shares of Celldex Therapeutics from $38.00 to $54.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.30.

Celldex Therapeutics Price Performance

The firm has a market capitalization of $2.82 billion, a P/E ratio of -8.42 and a beta of 0.95. The stock’s fifty day simple moving average is $32.06 and its 200 day simple moving average is $29.23.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly 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 firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.80 million. As a group, sell-side analysts forecast that Celldex Therapeutics, Inc. will post -4.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Eventide Asset Management LLC lifted its holdings in shares of Celldex Therapeutics by 37.1% during the 3rd quarter. Eventide Asset Management LLC now owns 1,859,095 shares of the biopharmaceutical company’s stock valued at $48,096,000 after purchasing an additional 502,909 shares during the last quarter. Segall Bryant & Hamill LLC grew its stake in Celldex Therapeutics by 36.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 528,597 shares of the biopharmaceutical company’s stock worth $13,675,000 after buying an additional 140,709 shares during the last quarter. American Century Companies Inc. grew its stake in Celldex Therapeutics by 4.6% during the 3rd quarter. American Century Companies Inc. now owns 815,560 shares of the biopharmaceutical company’s stock worth $21,099,000 after buying an additional 35,575 shares during the last quarter. Propel Bio Management LLC acquired a new position in Celldex Therapeutics during the 3rd quarter valued at about $4,010,000. Finally, Braidwell LP acquired a new position in Celldex Therapeutics during the 3rd quarter valued at about $15,307,000.

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.