HC Wainwright Reaffirms “Buy” Rating for Celldex Therapeutics (NASDAQ:CLDX)

Celldex Therapeutics (NASDAQ:CLDX)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued on Friday, Benzinga reports. They currently have a $64.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target points to a potential upside of 101.38% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Stifel Nicolaus set a $68.00 price target on shares of Celldex Therapeutics in a research note on Tuesday, September 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Friday, July 17th. 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 increased their price objective on shares of Celldex Therapeutics from $61.00 to $72.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 22nd. Finally, Morgan Stanley increased their price objective on shares of Celldex Therapeutics from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 23rd. One equities research 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 stock. According to data from MarketBeat, Celldex Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $61.92.

Celldex Therapeutics Trading Up 0.4%

Shares of NASDAQ CLDX opened at $31.78 on Friday. The company has a 50-day moving average of $38.38 and a 200 day moving average of $34.92. Celldex Therapeutics has a 12-month low of $22.10 and a 12-month high of $45.14. The stock has a market cap of $2.50 billion, a PE ratio of -7.31 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share 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 $0.74 million. On average, sell-side analysts forecast that Celldex Therapeutics will post -4.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in Celldex Therapeutics by 11.5% during the 2nd quarter. Wellington Management Group LLP now owns 9,543,671 shares of the biopharmaceutical company’s stock worth $355,120,000 after buying 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 buying an additional 131,616 shares in the last quarter. Eversept Partners LP lifted its holdings in Celldex Therapeutics by 24.6% during the 1st quarter. Eversept Partners LP now owns 1,788,016 shares of the biopharmaceutical company’s stock worth $56,716,000 after buying an additional 353,291 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 worth $33,596,000 after buying an additional 407,818 shares in the last quarter. Finally, Elmind Capital LP acquired a new stake in Celldex Therapeutics during the 4th quarter worth approximately $23,493,000.

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.