Morgan Stanley Forecasts Strong Price Appreciation for Celldex Therapeutics (NASDAQ:CLDX) Stock

Celldex Therapeutics (NASDAQ:CLDX) had its price objective raised by investment analysts at Morgan Stanley from $40.00 to $46.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target indicates a potential upside of 10.81% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Cantor Fitzgerald reduced their price objective on shares of Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. HC Wainwright reissued a “buy” rating and issued a $42.00 price target on shares of Celldex Therapeutics in a report on Monday, June 15th. Barclays upped their price objective on shares of Celldex Therapeutics from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Friday, July 17th. Finally, Canaccord Genuity Group reduced their target price on Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.46.

Celldex Therapeutics Stock Down 0.1%

NASDAQ CLDX traded down $0.05 on Friday, reaching $41.51. The company had a trading volume of 426,497 shares, compared to its average volume of 965,212. Celldex Therapeutics has a 52 week low of $19.72 and a 52 week high of $42.92. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of -9.79 and a beta of 0.87. The stock’s 50 day moving average is $34.99 and its 200-day moving average is $31.46.

Celldex Therapeutics (NASDAQ:CLDX) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.12. The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.73 million. As a group, analysts forecast that Celldex Therapeutics will post -4.36 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new stake in Celldex Therapeutics during the 3rd quarter worth about $42,000. Russell Investments Group Ltd. grew its holdings 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 acquiring an additional 501 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Celldex Therapeutics in the third quarter valued at about $63,000. Kestra Advisory Services LLC acquired a new stake in shares of Celldex Therapeutics in the fourth quarter valued at about $98,000. Finally, Headlands Technologies LLC bought a new stake in Celldex Therapeutics during the second quarter worth about $125,000.

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.