Celldex Therapeutics, Inc. (NASDAQ:CLDX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $49.30.

CLDX has been the subject of a number of recent research reports. Wall Street Zen raised shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. UBS Group lifted their price target on shares of Celldex Therapeutics from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group lifted their price target on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Barclays lifted their price target 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. Finally, Wolfe Research raised shares of 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.

Celldex Therapeutics Trading Up 4.4%

Shares of CLDX opened at $31.27 on Friday. Celldex Therapeutics has a 1-year low of $19.52 and a 1-year high of $35.79. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -7.34 and a beta of 0.95. The firm’s 50-day moving average price is $31.88 and its 200-day moving average price is $28.83.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.03). The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.80 million. On average, research analysts forecast that Celldex Therapeutics will post -4.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CLDX. Wellington Management Group LLP raised its holdings in Celldex Therapeutics by 39.3% in the fourth quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock worth $219,442,000 after buying an additional 2,279,605 shares during the last quarter. Vestal Point Capital LP raised its holdings in Celldex Therapeutics by 781.0% in the second quarter. Vestal Point Capital LP now owns 1,750,000 shares of the biopharmaceutical company’s stock worth $35,612,000 after buying an additional 1,551,354 shares during the last quarter. Braidwell LP raised its holdings in Celldex Therapeutics by 214.0% in the fourth quarter. Braidwell LP now owns 1,858,109 shares of the biopharmaceutical company’s stock worth $50,466,000 after buying an additional 1,266,420 shares during the last quarter. Elmind Capital LP purchased a new position in Celldex Therapeutics in the fourth quarter worth about $23,493,000. Finally, State Street Corp raised its holdings in Celldex Therapeutics by 19.5% in the fourth quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock worth $92,282,000 after buying an additional 555,579 shares during the last quarter.

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.