Celldex Therapeutics (NASDAQ:CLDX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Celldex Therapeutics (NASDAQ:CLDX) had its price target upped by analysts at Morgan Stanley from $57.00 to $61.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley‘s price objective indicates a potential upside of 94.52% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Leerink Partners increased their price target on shares of Celldex Therapeutics from $70.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, September 23rd. Wall Street Zen upgraded Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. HC Wainwright reiterated a “buy” rating and issued a $64.00 price objective on shares of Celldex Therapeutics in a research report on Friday, October 2nd. Barclays boosted their target price on Celldex Therapeutics from $48.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company upped their target price on Celldex Therapeutics from $48.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.42.

Celldex Therapeutics Trading Up 5.0%

Shares of NASDAQ:CLDX traded up $1.49 during trading on Monday, reaching $31.36. 379,397 shares of the company traded hands, compared to its average volume of 1,076,805. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -7.28 and a beta of 1.04. Celldex Therapeutics has a 52-week low of $22.10 and a 52-week high of $45.14. The business’s fifty day moving average is $32.93 and its 200-day moving average is $32.68.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.02) by $0.06. The firm had revenue of $0.40 million during the quarter, compared to the consensus estimate of $0.72 million. On average, sell-side analysts predict that Celldex Therapeutics will post -4.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

A number of large investors have recently modified their holdings of the stock. Three Bridge Wealth Advisors LLC purchased a new position in Celldex Therapeutics during the third quarter valued at $40,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Celldex Therapeutics during the 3rd quarter valued at $42,000. Nykredit A S purchased a new stake in shares of Celldex Therapeutics in the 2nd quarter worth about $67,000. Sterling Capital Management LLC grew its position in shares of Celldex Therapeutics by 355.2% in the 3rd quarter. Sterling Capital Management LLC now owns 2,376 shares of the biopharmaceutical company’s stock worth $77,000 after buying an additional 1,854 shares during the period. Finally, State of Wyoming grew its position in shares of Celldex Therapeutics by 347.3% in the 3rd quarter. State of Wyoming now owns 2,943 shares of the biopharmaceutical company’s stock worth $95,000 after buying an additional 2,285 shares during the period.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company that develops antibody-based treatments for inflammatory diseases and cancer. Its research focuses on targets involved in immune responses and the activity of mast cells.

The company’s lead candidate, barzolvolimab, is an antibody that targets the KIT receptor. Celldex is studying it for chronic urticaria and other conditions associated with mast-cell activity.

Celldex also has early-stage oncology programs that investigate antibody therapies designed to affect immune pathways.