Celldex Therapeutics (NASDAQ:CLDX) Price Target Raised to $64.00

Celldex Therapeutics (NASDAQ:CLDX) had its target price raised by HC Wainwright from $42.00 to $64.00 in a research report sent to investors on Tuesday, MarketBeat reports. HC Wainwright currently has a buy rating on the biopharmaceutical company’s stock.

Other analysts also recently issued research reports about the company. Guggenheim upped their target price on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Wells Fargo & Company lifted their price target on Celldex Therapeutics from $48.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald boosted their price target on Celldex Therapeutics from $61.00 to $72.00 and gave the company an “overweight” rating in a report on Tuesday. Wall Street Zen upgraded Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Celldex Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $61.92.

Celldex Therapeutics Price Performance

NASDAQ CLDX opened at $31.48 on Tuesday. Celldex Therapeutics has a 1 year low of $22.10 and a 1 year high of $45.14. The company has a market capitalization of $2.47 billion, a PE ratio of -7.24 and a beta of 0.84. The company has a fifty day moving average of $38.81 and a 200 day moving average of $34.86.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings results 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 earnings per share for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of large investors have recently bought and sold shares of CLDX. Quantinno Capital Management LP grew its stake in Celldex Therapeutics by 178.7% in the 1st quarter. Quantinno Capital Management LP now owns 65,744 shares of the biopharmaceutical company’s stock valued at $2,085,000 after acquiring an additional 42,158 shares during the period. Bank of America Corp DE increased its holdings in Celldex Therapeutics by 70.8% in the 1st 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 in the last quarter. Sei Investments Co. acquired a new position in Celldex Therapeutics during the first quarter worth $1,210,000. First Trust Advisors LP raised its position in Celldex Therapeutics by 78.7% during the first quarter. First Trust Advisors LP now owns 68,470 shares of the biopharmaceutical company’s stock worth $2,172,000 after acquiring an additional 30,157 shares during the period. Finally, Seven Fleet Capital Management LP purchased a new position in Celldex Therapeutics during the first quarter valued at $929,000.

Celldex Therapeutics Company Profile

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.