Wolfe Research Upgrades Celldex Therapeutics (NASDAQ:CLDX) to Outperform

Celldex Therapeutics (NASDAQ:CLDX) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Monday, MarketBeat reports. The brokerage presently has a $44.00 target price on the biopharmaceutical company’s stock. Wolfe Research’s price objective would suggest a potential upside of 42.39% from the stock’s current price.

CLDX has been the subject of several other research reports. The Goldman Sachs Group lifted their price target on Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Wednesday, January 21st. Finally, Barclays upped their price objective on shares of Celldex Therapeutics from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.45.

Celldex Therapeutics Trading Up 2.9%

CLDX stock opened at $30.90 on Monday. The company’s 50 day moving average is $26.64 and its 200 day moving average is $26.27. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -7.94 and a beta of 1.17. Celldex Therapeutics has a 1-year low of $14.40 and a 1-year high of $31.99.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.22). The company had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $1.53 million. Celldex Therapeutics had a negative return on equity of 41.67% and a negative net margin of 3,446.88%. As a group, sell-side analysts forecast that Celldex Therapeutics will post -2.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB grew its holdings in Celldex Therapeutics by 2.4% in the 2nd quarter. Handelsbanken Fonder AB now owns 21,600 shares of the biopharmaceutical company’s stock worth $440,000 after acquiring an additional 500 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Celldex Therapeutics by 27.6% in the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 501 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 purchasing an additional 680 shares during the period. ProShare Advisors LLC raised its position in Celldex Therapeutics by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 11,973 shares of the biopharmaceutical company’s stock valued at $325,000 after purchasing an additional 773 shares during the last quarter. Finally, DNB Asset Management AS lifted its holdings in Celldex Therapeutics by 7.7% in the 3rd quarter. DNB Asset Management AS now owns 13,251 shares of the biopharmaceutical company’s stock worth $343,000 after buying an additional 951 shares during the period.

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.