Celldex Therapeutics (NASDAQ:CLDX) Price Target Raised to $34.00

Celldex Therapeutics (NASDAQ:CLDX) had its price objective raised by The Goldman Sachs Group from $30.00 to $34.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a neutral rating on the biopharmaceutical company’s stock.

CLDX has been the subject of several other reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $68.00 price objective (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Wednesday, January 21st. Finally, Barclays upped their price target on Celldex Therapeutics from $21.00 to $24.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Celldex Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Celldex Therapeutics Price Performance

Shares of NASDAQ:CLDX opened at $29.54 on Monday. Celldex Therapeutics has a 1-year low of $14.40 and a 1-year high of $31.31. The stock has a market cap of $1.97 billion, a P/E ratio of -7.59 and a beta of 1.17. The firm has a fifty day moving average price of $25.86 and a 200 day moving average price of $25.61.

Celldex Therapeutics (NASDAQ:CLDX) last announced its earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.22). Celldex Therapeutics had a negative net margin of 3,446.88% and a negative return on equity of 41.67%. The business had revenue of $0.12 million during the quarter, compared to analysts’ expectations of $1.53 million. Sell-side analysts expect that Celldex Therapeutics will post -2.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of large investors have recently made changes to their positions in the stock. Simplify Asset Management Inc. acquired a new stake in Celldex Therapeutics in the third quarter valued at $2,199,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Celldex Therapeutics during the 2nd quarter worth $1,188,000. Corient Private Wealth LLC acquired a new position in shares of Celldex Therapeutics during the 2nd quarter worth $4,105,000. American Century Companies Inc. boosted its position in shares of Celldex Therapeutics by 24.7% in the 2nd quarter. American Century Companies Inc. now owns 779,985 shares of the biopharmaceutical company’s stock worth $15,873,000 after buying an additional 154,664 shares in the last quarter. Finally, 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 acquiring an additional 140,709 shares during the last quarter.

About Celldex Therapeutics

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.