Celldex Therapeutics (NASDAQ:CLDX) Price Target Raised to $54.00 at Wells Fargo & Company

Celldex Therapeutics (NASDAQ:CLDX) had its target price upped by Wells Fargo & Company from $38.00 to $54.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. Wall Street Zen raised Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. The Goldman Sachs Group upped their target price on Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Finally, Wolfe Research raised Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.78.

Celldex Therapeutics Stock Performance

CLDX stock opened at $32.51 on Wednesday. Celldex Therapeutics has a 1 year low of $18.47 and a 1 year high of $35.79. The stock’s 50 day moving average price is $31.87 and its 200 day moving average price is $28.03. The firm has a market cap of $2.55 billion, a P/E ratio of -7.63 and a beta of 0.98.

Celldex Therapeutics (NASDAQ:CLDX) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.03). The company had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.80 million. On average, research analysts predict that Celldex Therapeutics will post -4.45 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Segall Bryant & Hamill LLC lifted its stake in shares of Celldex Therapeutics by 36.3% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 528,597 shares of the biopharmaceutical company’s stock worth $13,675,000 after purchasing an additional 140,709 shares during the period. American Century Companies Inc. increased its holdings in shares of Celldex Therapeutics by 4.6% during the 3rd quarter. American Century Companies Inc. now owns 815,560 shares of the biopharmaceutical company’s stock worth $21,099,000 after buying an additional 35,575 shares during the last quarter. Propel Bio Management LLC purchased a new position in shares of Celldex Therapeutics in the 3rd quarter worth $4,010,000. Eventide Asset Management LLC raised its position in shares of Celldex Therapeutics by 37.1% in the 3rd quarter. Eventide Asset Management LLC now owns 1,859,095 shares of the biopharmaceutical company’s stock worth $48,096,000 after buying an additional 502,909 shares during the period. Finally, Braidwell LP purchased a new position in shares of Celldex Therapeutics in the 3rd quarter worth $15,307,000.

About Celldex Therapeutics

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.