Celldex Therapeutics (NASDAQ:CLDX) Price Target Lowered to $61.00 at Cantor Fitzgerald

Celldex Therapeutics (NASDAQ:CLDX) had its price objective trimmed by Cantor Fitzgerald from $67.00 to $61.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Several other equities analysts have also commented on the stock. Barclays increased their price objective on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. HC Wainwright restated a “buy” rating and issued a $42.00 target price on shares of Celldex Therapeutics in a report on Monday, June 15th. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Wells Fargo & Company increased 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 analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $52.77.

Celldex Therapeutics Stock Performance

NASDAQ CLDX opened at $34.77 on Wednesday. The company has a market capitalization of $2.73 billion, a P/E ratio of -8.16 and a beta of 0.90. Celldex Therapeutics has a one year low of $19.72 and a one year high of $40.30. The stock has a 50 day moving average price of $33.51 and a 200-day moving average price of $30.59.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in Celldex Therapeutics during the third quarter valued at $42,000. Russell Investments Group Ltd. lifted its holdings in shares of Celldex Therapeutics by 27.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 501 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Celldex Therapeutics in the 3rd quarter worth about $63,000. Kestra Advisory Services LLC purchased a new position in shares of Celldex Therapeutics during the 4th quarter worth about $98,000. Finally, Advisory Services Network LLC purchased a new position in shares of Celldex Therapeutics during the 3rd quarter worth about $139,000.

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

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.