Celldex Therapeutics (NASDAQ:CLDX) Price Target Raised to $57.00

Celldex Therapeutics (NASDAQ:CLDX) had its target price lifted by Morgan Stanley from $50.00 to $57.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group dropped their price objective on Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. UBS Group boosted their target price on Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Barclays raised their price target on Celldex Therapeutics from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Guggenheim lifted their price target on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Stifel Nicolaus set a $68.00 price objective on shares of Celldex Therapeutics in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Celldex Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.92.

Celldex Therapeutics Stock Down 1.2%

Shares of CLDX opened at $31.10 on Wednesday. The stock has a market capitalization of $2.44 billion, a P/E ratio of -7.15 and a beta of 0.84. The firm has a fifty day simple moving average of $38.72 and a two-hundred day simple moving average of $34.84. Celldex Therapeutics has a twelve month low of $22.10 and a twelve month high of $45.14.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.12. The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.73 million. Sell-side analysts expect that Celldex Therapeutics will post -4.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in Celldex Therapeutics by 11.5% in the 2nd quarter. Wellington Management Group LLP now owns 9,543,671 shares of the biopharmaceutical company’s stock valued at $355,120,000 after acquiring an additional 983,195 shares in the last quarter. Commodore Capital LP boosted its stake in Celldex Therapeutics by 5.1% during the 1st quarter. Commodore Capital LP now owns 2,696,616 shares of the biopharmaceutical company’s stock valued at $85,537,000 after purchasing an additional 131,616 shares during the last quarter. Eversept Partners LP increased its holdings in shares of Celldex Therapeutics by 24.6% in the 1st quarter. Eversept Partners LP now owns 1,788,016 shares of the biopharmaceutical company’s stock worth $56,716,000 after purchasing an additional 353,291 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Celldex Therapeutics by 62.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,059,534 shares of the biopharmaceutical company’s stock worth $33,596,000 after purchasing an additional 407,818 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Celldex Therapeutics by 438.3% in the second quarter. Assenagon Asset Management S.A. now owns 788,696 shares of the biopharmaceutical company’s stock worth $29,347,000 after purchasing an additional 642,171 shares during the last quarter.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for diseases with significant unmet medical needs. The company’s research programs address conditions in immunology, inflammation, oncology and other areas where targeted immune-system modulation may provide therapeutic benefits.

Celldex’s lead investigational product is barzolvolimab, an antibody designed to block the KIT receptor and reduce mast cells. The therapy is being studied in immune-mediated diseases, including chronic spontaneous urticaria and prurigo nodularis.