Celldex Therapeutics, Inc. (NASDAQ:CLDX) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) have earned a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $61.92.

Several equities research analysts recently issued reports on CLDX shares. Canaccord Genuity Group dropped their target price on shares of Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $64.00 price target on shares of Celldex Therapeutics in a research report on Friday, October 2nd. Finally, Leerink Partners raised their price objective on Celldex Therapeutics from $70.00 to $88.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 23rd.

Institutional Investors Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLDX. Wellington Management Group LLP boosted its holdings in Celldex Therapeutics by 11.5% in the 2nd 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 period. Commodore Capital LP increased its stake in Celldex Therapeutics by 5.1% in the 1st quarter. Commodore Capital LP now owns 2,696,616 shares of the biopharmaceutical company’s stock worth $85,537,000 after buying an additional 131,616 shares in the last quarter. Eversept Partners LP increased its stake in Celldex Therapeutics by 24.6% in the 1st quarter. Eversept Partners LP now owns 1,788,016 shares of the biopharmaceutical company’s stock worth $56,716,000 after buying an additional 353,291 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Celldex Therapeutics by 62.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,059,534 shares of the biopharmaceutical company’s stock valued at $33,596,000 after acquiring an additional 407,818 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Celldex Therapeutics by 438.3% in the second 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 in the last quarter.

Celldex Therapeutics Price Performance

Shares of NASDAQ:CLDX opened at $28.25 on Friday. The business has a 50-day simple moving average of $37.36 and a two-hundred day simple moving average of $34.90. Celldex Therapeutics has a fifty-two week low of $22.10 and a fifty-two week high of $45.14.

Celldex Therapeutics (NASDAQ:CLDX) last announced 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 for the quarter, compared to analysts’ expectations of $0.73 million. Research analysts expect that Celldex Therapeutics will post -4.17 earnings per share for the current fiscal year.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing antibody-based therapies for diseases with significant unmet medical needs. The company’s research programs target mast cell–mediated disorders, inflammatory diseases, and cancer, using engineered antibodies designed to modulate specific immune-system pathways.

Celldex’s lead product candidate is barzolvolimab, an investigational monoclonal antibody that targets the KIT receptor on mast cells.