Brokerages Set Celldex Therapeutics, Inc. (NASDAQ:CLDX) PT at $56.08

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) have earned an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $56.0833.

Several brokerages have recently weighed in on CLDX. Barclays raised their target price on Celldex Therapeutics from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. UBS Group lifted their price target on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Cantor Fitzgerald reduced their price target on shares of Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Friday, July 17th.

Celldex Therapeutics Price Performance

NASDAQ:CLDX opened at $40.57 on Thursday. The firm has a market capitalization of $3.19 billion, a PE ratio of -9.33 and a beta of 0.87. The business’s fifty day moving average price is $38.22 and its 200 day moving average price is $33.11. Celldex Therapeutics has a 12 month low of $21.40 and a 12 month high of $45.14.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.12. The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.73 million. As a group, equities analysts anticipate that Celldex Therapeutics will post -4.13 EPS for the current year.

Institutional Trading of Celldex Therapeutics

A number of large investors have recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in Celldex Therapeutics by 3,531.9% during the 2nd quarter. California State Teachers Retirement System now owns 2,892,073 shares of the biopharmaceutical company’s stock worth $107,614,000 after buying an additional 2,812,443 shares during the last quarter. Seven Fleet Capital Management LP lifted its stake in Celldex Therapeutics by 195.8% in the second quarter. Seven Fleet Capital Management LP now owns 86,664 shares of the biopharmaceutical company’s stock valued at $3,225,000 after buying an additional 57,364 shares during the last quarter. Odyssean LLC purchased a new stake in Celldex Therapeutics in the second quarter valued at approximately $3,538,000. Nykredit A S acquired a new stake in shares of Celldex Therapeutics in the second quarter valued at approximately $67,000. Finally, Montanova Capital LLC acquired a new stake in shares of Celldex Therapeutics in the second quarter valued at approximately $4,513,000.

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.