Celldex Therapeutics (NASDAQ:CLDX) Price Target Raised to $88.00

Celldex Therapeutics (NASDAQ:CLDX) had its target price raised by Leerink Partners from $70.00 to $88.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an outperform rating on the biopharmaceutical company’s stock.

Several other equities analysts also recently issued reports on CLDX. UBS Group upped their price objective on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Barclays lifted their target price on Celldex Therapeutics from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. 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 research report on Wednesday, July 29th. Stifel Nicolaus set a $68.00 price target on Celldex Therapeutics in a research note on Tuesday. Finally, Guggenheim raised their price target on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned 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, Celldex Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $61.92.

Celldex Therapeutics Trading Down 1.2%

Shares of NASDAQ:CLDX opened at $31.10 on Wednesday. The company has a market capitalization of $2.44 billion, a PE ratio of -7.15 and a beta of 0.84. Celldex Therapeutics has a twelve month low of $22.10 and a twelve month high of $45.14. The firm has a 50 day simple moving average of $38.72 and a 200-day simple moving average of $34.84.

Celldex Therapeutics (NASDAQ:CLDX) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.94) 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. As a group, equities research analysts predict that Celldex Therapeutics will post -4.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CLDX. 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 buying an additional 983,195 shares during the last quarter. Elmind Capital LP purchased a new stake in Celldex Therapeutics during the 4th quarter valued at approximately $23,493,000. Assenagon Asset Management S.A. raised its stake in Celldex Therapeutics by 438.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 788,696 shares of the biopharmaceutical company’s stock valued at $29,347,000 after acquiring an additional 642,171 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Celldex Therapeutics by 62.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,059,534 shares of the biopharmaceutical company’s stock worth $33,596,000 after acquiring an additional 407,818 shares during the period. Finally, Eversept Partners LP lifted its position in Celldex Therapeutics by 24.6% during the 1st quarter. Eversept Partners LP now owns 1,788,016 shares of the biopharmaceutical company’s stock worth $56,716,000 after acquiring an additional 353,291 shares during the period.

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.