Cantor Fitzgerald Issues Positive Forecast for Celldex Therapeutics (NASDAQ:CLDX) Stock Price

Celldex Therapeutics (NASDAQ:CLDX) had its target price boosted by Cantor Fitzgerald from $61.00 to $72.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 113.64% from the stock’s previous close.

A number of other brokerages also recently commented on CLDX. HC Wainwright reaffirmed a “buy” rating and set a $42.00 price target on shares of Celldex Therapeutics in a research report on Monday, June 15th. Barclays boosted their price target on shares of Celldex Therapeutics from $48.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Guggenheim lifted their price objective on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Wells Fargo & Company boosted their price objective on Celldex Therapeutics from $48.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $57.33.

Celldex Therapeutics Stock Down 11.1%

Celldex Therapeutics stock traded down $4.19 during midday trading on Tuesday, hitting $33.70. 7,458,498 shares of the stock were exchanged, compared to its average volume of 975,002. Celldex Therapeutics has a 52-week low of $22.10 and a 52-week high of $45.14. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -7.75 and a beta of 0.84. The business’s 50-day moving average price is $39.12 and its 200-day moving average price is $34.81.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.94) 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 analysts’ expectations of $0.73 million. On average, sell-side analysts predict that Celldex Therapeutics will post -4.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP grew its position in shares of Celldex Therapeutics by 11.5% in the second quarter. Wellington Management Group LLP now owns 9,543,671 shares of the biopharmaceutical company’s stock valued at $355,120,000 after purchasing an additional 983,195 shares in the last quarter. Commodore Capital LP lifted its holdings 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 worth $85,537,000 after purchasing an additional 131,616 shares in the last quarter. Eversept Partners LP boosted its stake in 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 during the period. Dimensional Fund Advisors LP grew its holdings in Celldex Therapeutics by 62.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,059,534 shares of the biopharmaceutical company’s stock valued at $33,596,000 after buying an additional 407,818 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Celldex Therapeutics by 1.1% during the fourth quarter. Fisher Asset Management LLC now owns 937,158 shares of the biopharmaceutical company’s stock valued at $25,453,000 after buying an additional 10,001 shares during the period.

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.