Barclays Issues Positive Forecast for Celldex Therapeutics (NASDAQ:CLDX) Stock Price

Celldex Therapeutics (NASDAQ:CLDX) had its price objective boosted by stock analysts at Barclays from $48.00 to $53.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s target price would indicate a potential upside of 27.53% from the company’s current price.

A number of other equities analysts have also recently weighed in on CLDX. Cantor Fitzgerald dropped their price target on Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Wells Fargo & Company boosted their price target 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. UBS Group lifted their target price on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Friday, July 17th. Finally, Guggenheim boosted their price objective on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.00.

Celldex Therapeutics Price Performance

CLDX opened at $41.56 on Friday. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of -9.76 and a beta of 0.87. The business has a 50 day moving average price of $34.99 and a two-hundred day moving average price of $31.46. Celldex Therapeutics has a 1-year low of $19.72 and a 1-year high of $41.74.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.12. The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.73 million. Equities analysts expect that Celldex Therapeutics will post -4.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

Several large investors have recently modified their holdings of CLDX. Russell Investments Group Ltd. raised its stake in Celldex Therapeutics by 27.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 501 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Celldex Therapeutics by 1.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock worth $798,000 after purchasing an additional 680 shares during the period. ProShare Advisors LLC boosted its position in Celldex Therapeutics by 6.9% during 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. Handelsbanken Fonder AB increased its holdings in shares of Celldex Therapeutics by 5.0% in the second quarter. Handelsbanken Fonder AB now owns 27,200 shares of the biopharmaceutical company’s stock valued at $1,012,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of Celldex Therapeutics by 7.5% in the fourth quarter. Panagora Asset Management Inc. now owns 21,856 shares of the biopharmaceutical company’s stock valued at $594,000 after purchasing an additional 1,522 shares during the last quarter.

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.