HC Wainwright Raises Celldex Therapeutics (NASDAQ:CLDX) Price Target to $64.00

Celldex Therapeutics (NASDAQ:CLDX) had its target price hoisted by HC Wainwright from $42.00 to $64.00 in a report issued on Tuesday, Briefing.com reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price would suggest a potential upside of 89.20% from the stock’s current price.

A number of other analysts have also commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Friday, July 17th. Wells Fargo & Company increased their price target on shares of Celldex Therapeutics from $48.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Cantor Fitzgerald boosted their target price on Celldex Therapeutics from $61.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Morgan Stanley boosted their price objective on Celldex Therapeutics from $46.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, September 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Celldex Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $59.17.

Celldex Therapeutics Stock Down 10.7%

Shares of NASDAQ:CLDX traded down $4.06 during trading on Tuesday, reaching $33.83. 8,114,299 shares of the company traded hands, compared to its average volume of 977,479. The firm has a fifty day simple moving average of $39.12 and a 200 day simple moving average of $34.81. 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 $2.66 billion, a P/E ratio of -7.70 and a beta of 0.84.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data 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 firm had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.73 million. As a group, research analysts anticipate that Celldex Therapeutics will post -4.17 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CLDX. Nykredit A S acquired a new position in Celldex Therapeutics in the second quarter valued at $67,000. Diversified Trust Co bought a new position in shares of Celldex Therapeutics in the first quarter valued at $223,000. Walleye Capital LLC bought a new position in shares of Celldex Therapeutics during the first quarter valued at about $258,000. Amundi bought a new position in Celldex Therapeutics during the first quarter valued at $297,000. Finally, Glenmede Trust Co. NA purchased a new stake in Celldex Therapeutics in the 1st quarter worth about $357,000.

Celldex Therapeutics Company Profile

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.