Celldex Therapeutics (NASDAQ:CLDX) Price Target Raised to $50.00 at Morgan Stanley

Celldex Therapeutics (NASDAQ:CLDX) had its target price raised by investment analysts at Morgan Stanley from $46.00 to $50.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target indicates a potential upside of 29.48% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. 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. HC Wainwright restated a “buy” rating and issued a $42.00 price objective on shares of Celldex Therapeutics in a research note on Monday, June 15th. UBS Group upped their target price on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Cantor Fitzgerald decreased their target price on shares of Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Finally, Guggenheim raised their price target on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.42.

Celldex Therapeutics Stock Down 0.4%

CLDX traded down $0.17 during trading on Thursday, hitting $38.62. 221,694 shares of the stock were exchanged, compared to its average volume of 931,862. Celldex Therapeutics has a 1-year low of $22.10 and a 1-year high of $45.14. The stock has a fifty day moving average price of $39.19 and a two-hundred day moving average price of $34.22. The firm has a market capitalization of $3.03 billion, a P/E ratio of -8.88 and a beta of 0.84.

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

Institutional Trading of Celldex Therapeutics

Several hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Celldex Therapeutics in the third quarter valued at about $42,000. Russell Investments Group Ltd. raised its holdings in Celldex Therapeutics by 27.6% during the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 501 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Celldex Therapeutics in the third quarter valued at about $63,000. Nykredit A S purchased a new stake in Celldex Therapeutics in the 2nd quarter valued at approximately $67,000. Finally, Kestra Advisory Services LLC purchased a new stake in Celldex Therapeutics in the 4th quarter valued at approximately $98,000.

Celldex Therapeutics Company Profile

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.