Celldex Therapeutics (NASDAQ:CLDX) Hits New 52-Week High on Analyst Upgrade

Celldex Therapeutics, Inc. (NASDAQ:CLDX) shares reached a new 52-week high during mid-day trading on Monday after Wolfe Research upgraded the stock from a peer perform rating to an outperform rating. Wolfe Research now has a $44.00 price target on the stock. Celldex Therapeutics traded as high as $32.05 and last traded at $33.89, with a volume of 6688 shares changing hands. The stock had previously closed at $30.90.

Several other analysts have also recently commented on the stock. The Goldman Sachs Group lifted their price objective on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Stifel Nicolaus restated a “buy” rating and set a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research report on Thursday, February 26th. Barclays increased their price target on Celldex Therapeutics from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Celldex Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.45.

Institutional Investors Weigh In On Celldex Therapeutics

Several hedge funds have recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Celldex Therapeutics in the 3rd quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new position in Celldex Therapeutics during the third quarter worth approximately $42,000. Russell Investments Group Ltd. grew its holdings in Celldex Therapeutics by 27.6% in the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 501 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Celldex Therapeutics in the third quarter valued at approximately $63,000. Finally, Strs Ohio acquired a new position in shares of Celldex Therapeutics during the 3rd quarter worth approximately $75,000.

Celldex Therapeutics Stock Performance

The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -8.17 and a beta of 1.17. The company has a 50 day moving average price of $26.77 and a two-hundred day moving average price of $26.33.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.22). The company had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $1.53 million. Celldex Therapeutics had a negative return on equity of 41.67% and a negative net margin of 3,446.88%. On average, equities analysts expect that Celldex Therapeutics, Inc. will post -2.48 earnings per share for the current fiscal 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.