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

Celldex Therapeutics (NASDAQ:CLDX)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a research report issued on Friday, Benzinga reports. They currently have a $64.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s price target indicates a potential upside of 98.88% from the company’s previous close.

CLDX has been the subject of a number of other reports. Wall Street Zen upgraded Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Barclays lifted their target price on shares of Celldex Therapeutics from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Cantor Fitzgerald boosted their target price 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. Morgan Stanley increased their target price 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. Finally, Leerink Partners lifted their price target on shares of Celldex Therapeutics from $70.00 to $88.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.92.

Celldex Therapeutics Price Performance

Shares of NASDAQ CLDX opened at $32.18 on Friday. Celldex Therapeutics has a 1-year low of $22.10 and a 1-year high of $45.14. The business has a 50-day moving average of $38.45 and a 200-day moving average of $34.91. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of -7.40 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.12. The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.73 million. Research analysts expect that Celldex Therapeutics will post -4.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of Celldex Therapeutics by 11.5% during the second quarter. Wellington Management Group LLP now owns 9,543,671 shares of the biopharmaceutical company’s stock worth $355,120,000 after purchasing an additional 983,195 shares in the last quarter. Elmind Capital LP purchased a new position in shares of Celldex Therapeutics in the 4th quarter worth about $23,493,000. Assenagon Asset Management S.A. boosted its position in shares of Celldex Therapeutics by 438.3% during the second quarter. Assenagon Asset Management S.A. now owns 788,696 shares of the biopharmaceutical company’s stock valued at $29,347,000 after buying an additional 642,171 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Celldex Therapeutics by 62.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,059,534 shares of the biopharmaceutical company’s stock valued at $33,596,000 after acquiring an additional 407,818 shares during the period. Finally, Eversept Partners LP lifted its position in shares of Celldex Therapeutics by 24.6% during the 1st quarter. Eversept Partners LP now owns 1,788,016 shares of the biopharmaceutical company’s stock valued at $56,716,000 after buying an additional 353,291 shares in the last quarter.

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.