Celldex Therapeutics’ (CLDX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Celldex Therapeutics (NASDAQ:CLDX) in a report released on Friday,Benzinga reports. The firm currently has a $64.00 price objective on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley boosted their price objective on Celldex Therapeutics from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, September 23rd. Leerink Partners increased their target price on shares of Celldex Therapeutics from $70.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 23rd. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Barclays lifted their price objective on shares of Celldex Therapeutics from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, UBS Group boosted their price objective on Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Celldex Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $61.92.

Celldex Therapeutics Stock Performance

Shares of NASDAQ CLDX opened at $31.65 on Friday. The stock has a fifty day simple moving average of $38.38 and a two-hundred day simple moving average of $34.92. Celldex Therapeutics has a 1-year low of $22.10 and a 1-year high of $45.14. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -7.28 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.12. The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.73 million. Analysts forecast that Celldex Therapeutics will post -4.17 EPS for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

Several large investors have recently added to or reduced their stakes in CLDX. Engineers Gate Manager LP purchased a new position in Celldex Therapeutics during the second quarter worth about $1,259,000. Arizona State Retirement System raised its holdings in shares of Celldex Therapeutics by 13.0% in the 2nd quarter. Arizona State Retirement System now owns 18,565 shares of the biopharmaceutical company’s stock valued at $691,000 after acquiring an additional 2,139 shares in the last quarter. Nykredit A S purchased a new stake in shares of Celldex Therapeutics in the 2nd quarter valued at about $67,000. Corient Private Wealth LP raised its holdings in shares of Celldex Therapeutics by 1,109.0% in the 2nd quarter. Corient Private Wealth LP now owns 176,956 shares of the biopharmaceutical company’s stock valued at $6,585,000 after acquiring an additional 162,320 shares in the last quarter. Finally, Seven Fleet Capital Management LP boosted its position in shares of Celldex Therapeutics by 195.8% during the 2nd quarter. Seven Fleet Capital Management LP now owns 86,664 shares of the biopharmaceutical company’s stock valued at $3,225,000 after acquiring an additional 57,364 shares during the last quarter.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapies for diseases with significant unmet medical needs. The company’s research programs target mast cell–mediated disorders, inflammatory diseases, and cancer, using engineered antibodies designed to modulate specific immune-system pathways.

Celldex’s lead product candidate is barzolvolimab, an investigational monoclonal antibody that targets the KIT receptor on mast cells.