Celldex Therapeutics (NASDAQ:CLDX) Price Target Raised to $100.00

Celldex Therapeutics (NASDAQ:CLDX) had its price objective lifted by Guggenheim from $90.00 to $100.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Other research analysts have also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $42.00 target price on shares of Celldex Therapeutics in a research report on Monday, June 15th. Barclays increased their target price 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. Wall Street Zen raised shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Wells Fargo & Company lifted their price target on shares of Celldex Therapeutics from $38.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Celldex Therapeutics has an average rating of “Moderate Buy” and an average target price of $52.77.

Celldex Therapeutics Stock Performance

Shares of CLDX stock opened at $34.77 on Monday. Celldex Therapeutics has a fifty-two week low of $19.72 and a fifty-two week high of $40.30. The stock’s fifty day moving average price is $33.51 and its two-hundred day moving average price is $30.59. The company has a market cap of $2.73 billion, a PE ratio of -8.16 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.03). The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.80 million. On average, equities analysts predict that Celldex Therapeutics will post -4.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of CLDX. Wellington Management Group LLP boosted its stake in shares of Celldex Therapeutics by 39.3% during the fourth quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock valued at $219,442,000 after purchasing an additional 2,279,605 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Celldex Therapeutics by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 4,027,407 shares of the biopharmaceutical company’s stock valued at $109,384,000 after buying an additional 72,817 shares during the period. Bellevue Group AG increased its stake in shares of Celldex Therapeutics by 7.6% in the third quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company’s stock valued at $92,037,000 after buying an additional 250,100 shares during the period. Commodore Capital LP raised its holdings in Celldex Therapeutics by 7.8% in the 2nd quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company’s stock valued at $70,208,000 after buying an additional 250,000 shares during the last quarter. Finally, State Street Corp raised its holdings in Celldex Therapeutics by 19.5% in the 4th quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock valued at $92,282,000 after buying an additional 555,579 shares during the last quarter.

Key Celldex Therapeutics News

Here are the key news stories impacting Celldex Therapeutics this week:

• Neutral Sentiment: Celldex reported topline Phase 2 results for barzolvolimab in prurigo nodularis, but the study missed the primary endpoint and key secondary endpoints, triggering concern about the drug’s development path. Article Title
• Negative Sentiment: Celldex said it will discontinue development of the experimental skin-disease treatment after the trial setback, a move that can reduce pipeline expectations and weigh on investor sentiment. Article Title
• Negative Sentiment: News of the trial failure and extended-trading selloff helped explain the sharp reaction in CLDX shares, with investors focused on the setback’s impact on Celldex’s lead dermatology program. Article Title
• Neutral Sentiment: Several analysts trimmed price targets, including Wells Fargo, Morgan Stanley, Cantor Fitzgerald, Canaccord, and Guggenheim, but most kept bullish ratings such as overweight or buy, suggesting the longer-term thesis is still intact. Article Title

About Celldex Therapeutics

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.