Celldex Therapeutics’ (CLDX) “Buy” Rating Reiterated at HC Wainwright

Celldex Therapeutics (NASDAQ:CLDX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They currently have a $64.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price objective indicates a potential upside of 102.21% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the stock. Morgan Stanley raised their target price on shares of Celldex Therapeutics from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, September 23rd. UBS Group raised their target price on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Friday, July 17th. Finally, Wells Fargo & Company raised their target price on shares of Celldex Therapeutics from $48.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Celldex Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $61.92.

Celldex Therapeutics Stock Performance

CLDX stock traded down $0.53 during trading on Friday, reaching $31.65. 2,404,662 shares of the company traded hands, compared to its average volume of 1,064,551. The business has a 50 day simple moving average of $38.45 and a 200 day simple moving average of $34.91. Celldex Therapeutics has a 12 month low of $22.10 and a 12 month high of $45.14. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -7.28 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) EPS for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.12. The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.74 million. As a group, research analysts forecast that Celldex Therapeutics will post -4.17 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB grew its stake in shares of Celldex Therapeutics by 5.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 27,200 shares of the biopharmaceutical company’s stock worth $1,012,000 after purchasing an additional 1,300 shares during the period. Nykredit A S acquired a new stake in shares of Celldex Therapeutics during the 2nd quarter worth approximately $67,000. Arizona State Retirement System grew its stake in shares of Celldex Therapeutics by 13.0% during the 2nd quarter. Arizona State Retirement System now owns 18,565 shares of the biopharmaceutical company’s stock worth $691,000 after purchasing an additional 2,139 shares during the period. Intech Investment Management LLC grew its stake in shares of Celldex Therapeutics by 8.4% during the 4th quarter. Intech Investment Management LLC now owns 33,499 shares of the biopharmaceutical company’s stock worth $910,000 after purchasing an additional 2,608 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Celldex Therapeutics by 3.5% during the first quarter. The Manufacturers Life Insurance Company now owns 77,772 shares of the biopharmaceutical company’s stock worth $2,467,000 after buying an additional 2,642 shares in the last quarter.

Celldex Therapeutics Company Profile

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.