Barclays Issues Positive Forecast for Celldex Therapeutics (NASDAQ:CLDX) Stock Price

Celldex Therapeutics (NASDAQ:CLDX) had its price objective hoisted by stock analysts at Barclays from $45.00 to $48.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. Barclays‘s price target would suggest a potential upside of 45.09% from the company’s current price.

Several other research analysts have also recently commented on CLDX. Wolfe Research raised Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research report on Monday, March 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. Finally, The Goldman Sachs Group boosted their price objective on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $46.64.

Celldex Therapeutics Trading Down 0.7%

Shares of NASDAQ CLDX traded down $0.24 during midday trading on Friday, reaching $33.08. The company’s stock had a trading volume of 152,701 shares, compared to its average volume of 923,052. Celldex Therapeutics has a fifty-two week low of $18.20 and a fifty-two week high of $35.79. The stock has a 50 day simple moving average of $31.69 and a 200-day simple moving average of $27.87. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of -8.49 and a beta of 0.98.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.13) by ($0.05). The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.80 million. As a group, equities analysts anticipate that Celldex Therapeutics will post -4.87 EPS for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

Several large investors have recently modified their holdings of CLDX. Segall Bryant & Hamill LLC grew its stake in Celldex Therapeutics by 36.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 528,597 shares of the biopharmaceutical company’s stock valued at $13,675,000 after buying an additional 140,709 shares during the last quarter. American Century Companies Inc. grew its position in shares of Celldex Therapeutics by 4.6% in the third quarter. American Century Companies Inc. now owns 815,560 shares of the biopharmaceutical company’s stock valued at $21,099,000 after purchasing an additional 35,575 shares during the last quarter. Propel Bio Management LLC bought a new position in shares of Celldex Therapeutics during the third quarter worth approximately $4,010,000. Eventide Asset Management LLC lifted its holdings in Celldex Therapeutics by 37.1% during the 3rd quarter. Eventide Asset Management LLC now owns 1,859,095 shares of the biopharmaceutical company’s stock worth $48,096,000 after purchasing an additional 502,909 shares during the last quarter. Finally, Braidwell LP bought a new position in Celldex Therapeutics during the 3rd quarter worth $15,307,000.

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.