Celldex Therapeutics (NASDAQ:CLDX) Reaches New 52-Week High – Should You Buy?

Celldex Therapeutics, Inc. (NASDAQ:CLDX)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $31.42 and last traded at $31.3950, with a volume of 942586 shares trading hands. The stock had previously closed at $29.43.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CLDX shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price objective (up from $58.00) on shares of Celldex Therapeutics in a report on Thursday, February 26th. Barclays lifted their price objective on Celldex Therapeutics from $21.00 to $24.00 and gave the company an “underweight” rating in a research report on Wednesday, December 17th. The Goldman Sachs Group raised their target price on Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Celldex Therapeutics Stock Performance

The stock has a market capitalization of $2.05 billion, a P/E ratio of -7.89 and a beta of 1.17. The stock has a 50-day simple moving average of $25.97 and a 200 day simple moving average of $25.71.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.22). The firm had revenue of $0.12 million for the quarter, compared to the consensus estimate of $1.53 million. Celldex Therapeutics had a negative return on equity of 41.67% and a negative net margin of 3,446.88%. Equities analysts predict that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

Institutional investors have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new stake in shares of Celldex Therapeutics during the third quarter worth approximately $26,000. Wilmington Savings Fund Society FSB bought a new stake in Celldex Therapeutics in the third quarter valued at about $42,000. Russell Investments Group Ltd. lifted its stake in Celldex Therapeutics by 27.6% in the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 501 shares during the period. Quantbot Technologies LP acquired a new position in shares of Celldex Therapeutics during the 3rd quarter worth about $63,000. Finally, Strs Ohio acquired a new stake in shares of Celldex Therapeutics in the 3rd quarter valued at approximately $75,000.

About Celldex Therapeutics

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.