Celldex Therapeutics (NASDAQ:CLDX) Upgraded by Wolfe Research to Outperform Rating

Wolfe Research upgraded shares of Celldex Therapeutics (NASDAQ:CLDX) from a peer perform rating to an outperform rating in a report published on Monday morning, Marketbeat Ratings reports. They currently have $44.00 price objective on the biopharmaceutical company’s stock.

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

Celldex Therapeutics Stock Up 2.9%

Shares of NASDAQ CLDX opened at $31.80 on Monday. The business’s 50 day moving average price is $26.77 and its 200 day moving average price is $26.33. The firm has a market cap of $2.12 billion, a P/E ratio of -8.17 and a beta of 1.17. Celldex Therapeutics has a 52 week low of $14.40 and a 52 week high of $34.52.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.22). The business had revenue of $0.12 million for 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%. As a group, research analysts expect that Celldex Therapeutics will post -2.48 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Simplify Asset Management Inc. purchased a new stake in shares of Celldex Therapeutics during the third quarter worth $2,199,000. Segall Bryant & Hamill LLC lifted its stake in shares of Celldex Therapeutics by 36.3% in the third quarter. Segall Bryant & Hamill LLC now owns 528,597 shares of the biopharmaceutical company’s stock worth $13,675,000 after buying an additional 140,709 shares in the last quarter. American Century Companies Inc. boosted its position in Celldex Therapeutics by 4.6% during the third quarter. American Century Companies Inc. now owns 815,560 shares of the biopharmaceutical company’s stock worth $21,099,000 after acquiring an additional 35,575 shares during the last quarter. Eventide Asset Management LLC boosted its position in Celldex Therapeutics by 37.1% during the third quarter. Eventide Asset Management LLC now owns 1,859,095 shares of the biopharmaceutical company’s stock worth $48,096,000 after acquiring an additional 502,909 shares during the last quarter. Finally, Propel Bio Management LLC purchased a new stake in Celldex Therapeutics during the 3rd quarter valued at about $4,010,000.

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.