Brokerages Set Celldex Therapeutics, Inc. (NASDAQ:CLDX) Target Price at $56.42

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has earned an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $56.4167.

A number of brokerages have commented on CLDX. Guggenheim lifted their target price on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Morgan Stanley raised their price target on shares of Celldex Therapeutics from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. UBS Group raised their target price on Celldex Therapeutics from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Barclays upped their price target 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, HC Wainwright reaffirmed a “buy” rating and set a $42.00 target price on shares of Celldex Therapeutics in a research note on Monday, June 15th.

Celldex Therapeutics Price Performance

CLDX opened at $38.24 on Monday. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of -8.79 and a beta of 0.84. The company’s 50 day simple moving average is $39.13 and its two-hundred day simple moving average is $34.75. Celldex Therapeutics has a 1-year low of $22.10 and a 1-year high of $45.14.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.06) by $0.12. The company had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.73 million. On average, equities analysts anticipate that Celldex Therapeutics will post -4.17 earnings per share for the current fiscal year.

Institutional Trading of Celldex Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantinno Capital Management LP increased its stake in Celldex Therapeutics by 178.7% during the first quarter. Quantinno Capital Management LP now owns 65,744 shares of the biopharmaceutical company’s stock worth $2,085,000 after purchasing an additional 42,158 shares during the period. Bank of America Corp DE increased its position in shares of Celldex Therapeutics by 70.8% during the first quarter. Bank of America Corp DE now owns 708,647 shares of the biopharmaceutical company’s stock worth $22,478,000 after acquiring an additional 293,759 shares during the period. First Trust Advisors LP boosted its holdings in Celldex Therapeutics by 78.7% in the first quarter. First Trust Advisors LP now owns 68,470 shares of the biopharmaceutical company’s stock valued at $2,172,000 after purchasing an additional 30,157 shares during the period. Sei Investments Co. purchased a new position in Celldex Therapeutics in the first quarter valued at $1,210,000. Finally, Seven Fleet Capital Management LP acquired a new stake in Celldex Therapeutics in the 1st quarter valued at about $929,000.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapeutics for diseases with significant unmet medical needs. The company’s research programs address conditions in immunology, inflammation, oncology and other areas where targeted immune-system modulation may provide therapeutic benefits.

Celldex’s lead investigational product is barzolvolimab, an antibody designed to block the KIT receptor and reduce mast cells. The therapy is being studied in immune-mediated diseases, including chronic spontaneous urticaria and prurigo nodularis.