Brean Capital began coverage on shares of Celldex Therapeutics Inc. (NASDAQ:CLDX) in a report released on Tuesday. The firm issued a buy rating and a $16.00 target price on the biopharmaceutical company’s stock.
A number of other equities analysts also recently issued reports on the company. Jefferies Group reissued a hold rating and set a $5.00 target price (up from $4.00) on shares of Celldex Therapeutics in a research note on Thursday, August 11th. Wedbush reissued a neutral rating and set a $3.00 target price on shares of Celldex Therapeutics in a research note on Tuesday, August 9th. Finally, Cowen and Company reissued an outperform rating and set a $12.00 target price on shares of Celldex Therapeutics in a research note on Tuesday, June 7th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Celldex Therapeutics has a consensus rating of Hold and an average price target of $9.75.
Celldex Therapeutics (NASDAQ:CLDX) opened at 4.14 on Tuesday. The stock’s market cap is $416.26 million. Celldex Therapeutics has a 12 month low of $2.96 and a 12 month high of $18.62. The company’s 50-day moving average price is $3.75 and its 200-day moving average price is $4.17.
Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. The business earned $1.39 million during the quarter, compared to the consensus estimate of $0.96 million. Celldex Therapeutics had a negative return on equity of 47.59% and a negative net margin of 2,383.60%. The company’s revenue for the quarter was down 36.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.33) EPS. Equities analysts forecast that Celldex Therapeutics will post ($1.34) earnings per share for the current year.
A number of large investors have recently made changes to their positions in CLDX. State Street Corp boosted its stake in shares of Celldex Therapeutics by 158.9% in the first quarter. State Street Corp now owns 8,561,225 shares of the biopharmaceutical company’s stock worth $32,362,000 after buying an additional 5,254,100 shares during the period. Columbia Wanger Asset Management LLC boosted its stake in shares of Celldex Therapeutics by 76.8% in the second quarter. Columbia Wanger Asset Management LLC now owns 5,261,934 shares of the biopharmaceutical company’s stock worth $23,100,000 after buying an additional 2,285,534 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of Celldex Therapeutics during the first quarter worth approximately $3,446,000. Renaissance Technologies LLC bought a new stake in shares of Celldex Therapeutics during the first quarter worth approximately $3,074,000. Finally, Norges Bank bought a new stake in shares of Celldex Therapeutics during the fourth quarter worth approximately $9,378,000. Hedge funds and other institutional investors own 78.41% of the company’s stock.
About Celldex Therapeutics
Celldex Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of several immunotherapy technologies for the treatment of cancer and other diseases. Its lead drug Rintega (rindopepimut and CDX-110) is a therapeutic vaccine in clinical studies for the treatment of glioblastoma patients that express a specific cancer marker known as type III epidermal growth factor receptor mutation (EGFRvIII).
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