Celldex Therapeutics (NASDAQ:CLDX) Shares Gap Up Following Analyst Upgrade

Celldex Therapeutics, Inc. (NASDAQ:CLDX) gapped up before the market opened on Monday after Barclays upgraded the stock from an underweight rating to an overweight rating. The stock had previously closed at $34.55, but opened at $35.79. Barclays now has a $45.00 price target on the stock, up from their previous price target of $24.00. Celldex Therapeutics shares last traded at $34.6910, with a volume of 215,711 shares traded.

A number of other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. Wolfe Research raised shares of Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective on the stock in a research report on Monday, March 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 price objective (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Celldex Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $46.36.

Institutional Investors Weigh In On Celldex Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLDX. Aster Capital Management DIFC Ltd bought a new stake in Celldex Therapeutics during the 3rd quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Celldex Therapeutics during the 3rd quarter worth about $42,000. Russell Investments Group Ltd. increased its stake 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 worth $47,000 after purchasing an additional 501 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Celldex Therapeutics during the 3rd quarter worth about $63,000. Finally, Strs Ohio acquired a new position in shares of Celldex Therapeutics during the 3rd quarter worth about $75,000.

Celldex Therapeutics Trading Up 0.3%

The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of -8.91 and a beta of 1.19. The firm’s 50 day moving average price is $29.33 and its two-hundred day moving average price is $27.29.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.22). The company had revenue of $0.12 million for the quarter, compared to analyst estimates of $1.53 million. As a group, equities research analysts predict that Celldex Therapeutics, Inc. will post -2.48 EPS for the current year.

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.