Wells Fargo & Company Increases Celldex Therapeutics (NASDAQ:CLDX) Price Target to $72.00

Celldex Therapeutics (NASDAQ:CLDX) had its price target boosted by Wells Fargo & Company from $48.00 to $72.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 100.86% from the stock’s current price.

CLDX has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $42.00 price target on shares of Celldex Therapeutics in a research note on Monday, June 15th. Canaccord Genuity Group lowered their price target on shares of Celldex Therapeutics from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. UBS Group lifted their price objective on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, Cantor Fitzgerald decreased their target price on shares of Celldex Therapeutics from $67.00 to $61.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Celldex Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $54.62.

Celldex Therapeutics Price Performance

Celldex Therapeutics stock traded up $0.27 during trading hours on Wednesday, hitting $35.84. The company had a trading volume of 257,309 shares, compared to its average volume of 959,235. The firm has a 50-day moving average of $33.86 and a 200 day moving average of $30.83. The firm has a market cap of $2.81 billion, a PE ratio of -8.39 and a beta of 0.90. Celldex Therapeutics has a one year low of $19.72 and a one year high of $40.30.

Celldex Therapeutics (NASDAQ:CLDX) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share 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. As a group, research analysts expect that Celldex Therapeutics will post -4.36 earnings per share for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Handelsbanken Fonder AB boosted its holdings in Celldex Therapeutics by 5.0% in the second quarter. Handelsbanken Fonder AB now owns 27,200 shares of the biopharmaceutical company’s stock valued at $1,012,000 after acquiring an additional 1,300 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Celldex Therapeutics by 438.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 788,696 shares of the biopharmaceutical company’s stock worth $29,347,000 after acquiring an additional 642,171 shares during the period. Apella Capital LLC raised its position in shares of Celldex Therapeutics by 56.6% in the 2nd quarter. Apella Capital LLC now owns 26,658 shares of the biopharmaceutical company’s stock worth $1,064,000 after acquiring an additional 9,634 shares in the last quarter. Mirador Capital Partners LP raised its position in shares of Celldex Therapeutics by 1.7% in the 2nd quarter. Mirador Capital Partners LP now owns 181,054 shares of the biopharmaceutical company’s stock worth $6,737,000 after acquiring an additional 3,001 shares in the last quarter. Finally, Seven Fleet Capital Management LP acquired a new position in shares of Celldex Therapeutics in the 1st quarter valued at about $929,000.

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.