Celldex Therapeutics (NASDAQ:CLDX) Price Target Raised to $68.00

Celldex Therapeutics (NASDAQ:CLDX) had its target price lifted by Canaccord Genuity Group from $60.00 to $68.00 in a research report sent to investors on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biopharmaceutical company’s stock.

CLDX has been the topic of several other research reports. Barclays lifted their price objective on shares of Celldex Therapeutics from $48.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Leerink Partners increased their target price on shares of Celldex Therapeutics from $70.00 to $88.00 and gave the company an “outperform” rating in a research report on Wednesday, September 23rd. Wall Street Zen raised shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Stifel Nicolaus set a $68.00 price target on shares of Celldex Therapeutics in a research note on Tuesday, September 22nd. Finally, Morgan Stanley lifted their price target on shares of Celldex Therapeutics from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday. Eleven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Celldex Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $64.08.

Celldex Therapeutics Price Performance

NASDAQ CLDX opened at $30.15 on Monday. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of -7.01 and a beta of 1.04. Celldex Therapeutics has a one year low of $22.33 and a one year high of $45.14. The business’s fifty day moving average is $32.41 and its 200-day moving average is $32.74.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Thursday, November 5th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.02) by $0.06. The company had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.72 million. Research analysts expect that Celldex Therapeutics will post -4.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in Celldex Therapeutics by 11.5% during the second quarter. Wellington Management Group LLP now owns 9,543,671 shares of the biopharmaceutical company’s stock worth $355,120,000 after purchasing an additional 983,195 shares during the period. Commodore Capital LP increased its stake in shares of Celldex Therapeutics by 5.1% in the first quarter. Commodore Capital LP now owns 2,696,616 shares of the biopharmaceutical company’s stock worth $85,537,000 after purchasing an additional 131,616 shares in the last quarter. Eversept Partners LP raised its position in shares of Celldex Therapeutics by 24.6% in the first quarter. Eversept Partners LP now owns 1,788,016 shares of the biopharmaceutical company’s stock valued at $56,716,000 after purchasing an additional 353,291 shares during the period. Fisher Asset Management LLC raised its position in shares of Celldex Therapeutics by 26.5% in the third quarter. Fisher Asset Management LLC now owns 1,246,855 shares of the biopharmaceutical company’s stock valued at $40,411,000 after purchasing an additional 261,178 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Celldex Therapeutics by 62.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,059,534 shares of the biopharmaceutical company’s stock valued at $33,596,000 after purchasing an additional 407,818 shares during the period.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops antibody-based treatments for inflammatory diseases and cancer. Its research focuses on targets involved in immune responses and the activity of mast cells. The company’s lead candidate, barzolvolimab, is an antibody that targets the KIT receptor. Celldex is studying it for chronic urticaria and other conditions associated with mast-cell activity. Celldex also has early-stage oncology programs that investigate antibody therapies designed to affect immune pathways.