HC Wainwright Reaffirms Buy Rating for Celldex Therapeutics (NASDAQ:CLDX)

Celldex Therapeutics (NASDAQ:CLDX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They presently have a $42.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 34.31% from the company’s previous close.

A number of other analysts have also recently commented on the company. UBS Group upped their price objective on Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Wells Fargo & Company raised their target price on Celldex Therapeutics from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Wolfe Research raised shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research report on Monday, March 23rd. The Goldman Sachs Group increased their price objective on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Finally, Barclays raised their price objective on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.30.

Celldex Therapeutics Stock Performance

NASDAQ:CLDX opened at $31.27 on Monday. The company has a market cap of $2.45 billion, a PE ratio of -7.34 and a beta of 0.95. The company has a 50 day simple moving average of $31.88 and a two-hundred day simple moving average of $28.84. Celldex Therapeutics has a 12 month low of $19.52 and a 12 month high of $35.79.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The firm had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.80 million. Research analysts forecast that Celldex Therapeutics will post -4.36 earnings per share for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of CLDX. Aster Capital Management DIFC Ltd bought a new stake in Celldex Therapeutics during the third quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Celldex Therapeutics in the third quarter worth about $42,000. Russell Investments Group Ltd. lifted its position in shares of Celldex Therapeutics by 27.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after buying an additional 501 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Celldex Therapeutics during the 3rd quarter valued at about $63,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Celldex Therapeutics during 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.