HC Wainwright Reiterates “Buy” Rating for Celldex Therapeutics (NASDAQ:CLDX)

Celldex Therapeutics (NASDAQ:CLDX)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Wednesday, Benzinga reports. They currently have a $80.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 107.63% from the company’s current price.

A number of other research analysts also recently weighed in on CLDX. Guggenheim raised their price objective on Celldex Therapeutics from $72.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. TD Cowen began coverage on Celldex Therapeutics in a research note on Wednesday, December 20th. They issued an “outperform” rating on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.00.

Celldex Therapeutics Price Performance

Shares of Celldex Therapeutics stock opened at $38.53 on Wednesday. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -13.24 and a beta of 1.49. Celldex Therapeutics has a 52-week low of $22.11 and a 52-week high of $53.18. The stock has a 50-day simple moving average of $42.03 and a 200-day simple moving average of $35.73.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings data on Monday, February 26th. The biopharmaceutical company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.19. Celldex Therapeutics had a negative return on equity of 41.06% and a negative net margin of 2,054.46%. The business had revenue of $4.13 million for the quarter, compared to the consensus estimate of $1.20 million. As a group, equities research analysts predict that Celldex Therapeutics will post -2.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in Celldex Therapeutics by 2.1% in the 4th quarter. Legal & General Group Plc now owns 17,215 shares of the biopharmaceutical company’s stock worth $767,000 after buying an additional 360 shares during the period. Silverarc Capital Management LLC increased its position in Celldex Therapeutics by 0.9% in the 1st quarter. Silverarc Capital Management LLC now owns 45,538 shares of the biopharmaceutical company’s stock worth $256,000 after buying an additional 406 shares during the period. Nuveen Asset Management LLC increased its position in Celldex Therapeutics by 0.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 120,968 shares of the biopharmaceutical company’s stock worth $4,104,000 after buying an additional 420 shares during the period. First Trust Advisors LP grew its holdings in shares of Celldex Therapeutics by 4.4% during the 3rd quarter. First Trust Advisors LP now owns 10,399 shares of the biopharmaceutical company’s stock worth $292,000 after purchasing an additional 440 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its holdings in shares of Celldex Therapeutics by 57.9% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,394 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 511 shares in the last quarter.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.