Wells Fargo & Company Cuts Celldex Therapeutics (NASDAQ:CLDX) Price Target to $48.00

Celldex Therapeutics (NASDAQ:CLDX) had its price objective cut by Wells Fargo & Company from $54.00 to $48.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

A number of other brokerages have also issued reports on CLDX. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Guggenheim raised their price objective on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Canaccord Genuity Group lowered their price objective on Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday. Cantor Fitzgerald dropped their target price on Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Celldex Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $52.77.

Celldex Therapeutics Price Performance

Shares of NASDAQ CLDX opened at $35.28 on Wednesday. The stock has a fifty day moving average price of $33.64 and a 200 day moving average price of $30.68. Celldex Therapeutics has a 1-year low of $19.72 and a 1-year high of $40.30. The company has a market cap of $2.77 billion, a PE ratio of -8.28 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.80 million. Analysts anticipate that Celldex Therapeutics will post -4.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

A number of large investors have recently added to or reduced their stakes in CLDX. Wilmington Savings Fund Society FSB purchased a new position in Celldex Therapeutics during the 3rd quarter valued at about $42,000. Russell Investments Group Ltd. lifted its holdings in shares of 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 purchasing 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 approximately $63,000. Kestra Advisory Services LLC acquired a new stake in shares of Celldex Therapeutics in the fourth quarter valued at approximately $98,000. Finally, Headlands Technologies LLC purchased a new position in shares of Celldex Therapeutics during the 2nd quarter worth approximately $125,000.

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.