Celldex Therapeutics (NASDAQ:CLDX) Given New $48.00 Price Target at Citigroup

Celldex Therapeutics (NASDAQ:CLDX) had its price objective cut by Citigroup from $56.00 to $48.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other research analysts have also weighed in on CLDX. Canaccord Genuity Group dropped their price objective on Celldex Therapeutics from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday. The Goldman Sachs Group dropped their price objective on Celldex Therapeutics from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Morgan Stanley dropped their price objective on Celldex Therapeutics from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. UBS Group dropped their price objective on Celldex Therapeutics from $44.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, HC Wainwright dropped their price objective on Celldex Therapeutics from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $46.67.

Celldex Therapeutics Price Performance

Shares of CLDX stock opened at $20.89 on Wednesday. The business’s fifty day moving average price is $22.07 and its 200 day moving average price is $20.68. Celldex Therapeutics has a 1-year low of $14.40 and a 1-year high of $47.00. The firm has a market capitalization of $1.39 billion, a PE ratio of -6.94 and a beta of 1.22.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.01. Celldex Therapeutics had a negative return on equity of 27.61% and a negative net margin of 3,446.88%.The firm had revenue of $0.73 million for the quarter, compared to analyst estimates of $1.13 million. Equities research analysts expect that Celldex Therapeutics will post -2.48 earnings per share for the current fiscal year.

Institutional Trading of Celldex Therapeutics

Large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its holdings in Celldex Therapeutics by 171.7% in the second quarter. Nisa Investment Advisors LLC now owns 1,394 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 881 shares during the last quarter. Russell Investments Group Ltd. lifted its position 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 acquiring an additional 501 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Celldex Therapeutics by 6,665.9% in the first quarter. GAMMA Investing LLC now owns 2,977 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 2,933 shares in the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of Celldex Therapeutics in the fourth quarter valued at $121,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Celldex Therapeutics in the second quarter valued at $125,000.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.