Celldex Therapeutics (NASDAQ:CLDX) Upgraded at Barclays

Celldex Therapeutics (NASDAQ:CLDX) was upgraded by stock analysts at Barclays from an “underweight” rating to an “overweight” rating in a report released on Monday. The brokerage currently has a $45.00 target price on the biopharmaceutical company’s stock. Barclays‘s price target would indicate a potential upside of 30.25% from the stock’s current price.

Several other equities research analysts also recently commented on CLDX. Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, January 21st. Wolfe Research raised shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Monday, March 23rd. The Goldman Sachs Group lifted their price target 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, Stifel Nicolaus reissued 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. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.36.

Celldex Therapeutics Stock Performance

Shares of CLDX opened at $34.55 on Monday. Celldex Therapeutics has a 52-week low of $17.85 and a 52-week high of $35.29. The business’s 50 day moving average price is $29.33 and its two-hundred day moving average price is $27.29. The firm has a market cap of $2.30 billion, a PE ratio of -8.88 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing the consensus estimate 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. Research analysts predict that Celldex Therapeutics will post -2.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

Large investors have recently added to or reduced their stakes in the company. Diversified Trust Co purchased a new stake in Celldex Therapeutics during the first quarter valued at about $223,000. Invesco Ltd. increased its stake in shares of Celldex Therapeutics by 14.3% in the fourth quarter. Invesco Ltd. now owns 90,144 shares of the biopharmaceutical company’s stock worth $2,448,000 after purchasing an additional 11,258 shares in the last quarter. ADAR1 Capital Management LLC raised its position in shares of Celldex Therapeutics by 491.0% in the fourth quarter. ADAR1 Capital Management LLC now owns 646,767 shares of the biopharmaceutical company’s stock valued at $17,566,000 after purchasing an additional 537,325 shares during the period. XTX Topco Ltd lifted its stake in shares of Celldex Therapeutics by 552.7% during the 4th quarter. XTX Topco Ltd now owns 51,523 shares of the biopharmaceutical company’s stock valued at $1,399,000 after buying an additional 43,629 shares in the last quarter. Finally, Virtus Investment Advisers LLC lifted its stake in shares of Celldex Therapeutics by 72.9% during the 4th quarter. Virtus Investment Advisers LLC now owns 9,671 shares of the biopharmaceutical company’s stock valued at $263,000 after buying an additional 4,079 shares in 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.