Celldex Therapeutics, Inc. (NASDAQ:CLDX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $50.11.

Several analysts have issued reports on CLDX shares. UBS Group reduced their price target on shares of Celldex Therapeutics from $44.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Morgan Stanley reduced their price target on shares of Celldex Therapeutics from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. The Goldman Sachs Group reduced their price target on shares of Celldex Therapeutics from $36.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. Canaccord Genuity Group started coverage on shares of Celldex Therapeutics in a report on Monday, April 28th. They issued a “buy” rating and a $64.00 price target on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $50.00 price target on shares of Celldex Therapeutics in a report on Friday, June 13th.

Celldex Therapeutics Price Performance

Shares of NASDAQ CLDX opened at $20.50 on Friday. Celldex Therapeutics has a 12-month low of $14.40 and a 12-month high of $47.00. The company has a market capitalization of $1.36 billion, a PE ratio of -7.59 and a beta of 1.33. The firm’s 50-day moving average is $19.87 and its two-hundred day moving average is $21.56.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). Celldex Therapeutics had a negative net margin of 2,366.07% and a negative return on equity of 23.46%. The business had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $1.08 million. On average, analysts forecast that Celldex Therapeutics will post -2.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of Celldex Therapeutics by 215.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 878 shares during the period. GAMMA Investing LLC raised its stake in Celldex Therapeutics by 6,665.9% during the first quarter. GAMMA Investing LLC now owns 2,977 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 2,933 shares during the period. Headlands Technologies LLC purchased a new position in Celldex Therapeutics during the fourth quarter worth approximately $81,000. AlphaQuest LLC raised its stake in Celldex Therapeutics by 171.0% during the fourth quarter. AlphaQuest LLC now owns 4,287 shares of the biopharmaceutical company’s stock worth $108,000 after purchasing an additional 2,705 shares during the period. Finally, Aquatic Capital Management LLC purchased a new position in Celldex Therapeutics during the fourth quarter worth approximately $121,000.

About Celldex Therapeutics

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.