Barclays Boosts Celldex Therapeutics (NASDAQ:CLDX) Price Target to $24.00

Celldex Therapeutics (NASDAQ:CLDX) had its price target hoisted by stock analysts at Barclays from $21.00 to $24.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the biopharmaceutical company’s stock. Barclays‘s target price would indicate a potential downside of 9.62% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Mizuho assumed coverage on shares of Celldex Therapeutics in a report on Tuesday, October 21st. They set an “outperform” rating and a $48.00 target price on the stock. HC Wainwright lowered their target price on shares of Celldex Therapeutics from $50.00 to $42.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Canaccord Genuity Group reissued a “buy” rating and issued a $62.00 target price on shares of Celldex Therapeutics in a research report on Wednesday, September 17th. Citigroup cut their price objective on shares of Celldex Therapeutics from $56.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company decreased their price target on Celldex Therapeutics from $44.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.10.

Celldex Therapeutics Stock Performance

Shares of CLDX traded down $0.13 during midday trading on Wednesday, hitting $26.56. 190,756 shares of the company traded hands, compared to its average volume of 993,017. The firm has a 50 day moving average of $26.38 and a 200-day moving average of $24.00. Celldex Therapeutics has a 52 week low of $14.40 and a 52 week high of $30.50. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -7.86 and a beta of 1.13.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Monday, November 10th. The biopharmaceutical company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.13). Celldex Therapeutics had a negative net margin of 3,446.88% and a negative return on equity of 33.22%. Sell-side analysts predict that Celldex Therapeutics will post -2.48 earnings per share for the current fiscal year.

Insider Transactions at Celldex Therapeutics

In related news, insider Richard M. Wright sold 49,298 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $24.00, for a total transaction of $1,183,152.00. Following the completion of the transaction, the insider directly owned 20,833 shares in the company, valued at $499,992. This trade represents a 70.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd acquired a new position in Celldex Therapeutics during the 3rd quarter worth $26,000. Nisa Investment Advisors LLC boosted its stake in Celldex Therapeutics by 171.7% in the second quarter. Nisa Investment Advisors LLC now owns 1,394 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 881 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Celldex Therapeutics in the 3rd quarter valued at about $42,000. Russell Investments Group Ltd. boosted its position in shares of 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 purchasing an additional 501 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Celldex Therapeutics during the 3rd quarter worth approximately $63,000.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.