Wolfe Research Reiterates Outperform Rating for Celldex Therapeutics (NASDAQ:CLDX)

Celldex Therapeutics (NASDAQ:CLDX)‘s stock had its “outperform” rating reiterated by investment analysts at Wolfe Research in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $51.00 price target on the biopharmaceutical company’s stock. Wolfe Research’s target price would indicate a potential upside of 55.20% from the company’s previous close.

A number of other equities analysts have also recently commented on CLDX. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research report on Monday, September 16th. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Celldex Therapeutics in a report on Monday, August 12th. Wells Fargo & Company increased their price target on shares of Celldex Therapeutics from $35.00 to $37.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus started coverage on shares of Celldex Therapeutics in a research report on Tuesday, June 18th. They set a “buy” rating and a $58.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.83.

Celldex Therapeutics Trading Down 8.8 %

Shares of CLDX stock opened at $32.86 on Wednesday. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -11.59 and a beta of 1.56. Celldex Therapeutics has a 1 year low of $22.11 and a 1 year high of $53.18. The firm’s 50 day moving average is $38.51 and its 200-day moving average is $38.47.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.05. Celldex Therapeutics had a negative net margin of 1,809.18% and a negative return on equity of 23.66%. The company had revenue of $2.50 million for the quarter, compared to the consensus estimate of $1.13 million. On average, equities research analysts forecast that Celldex Therapeutics will post -2.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Celldex Therapeutics by 16.3% in the 4th quarter. Vanguard Group Inc. now owns 3,046,331 shares of the biopharmaceutical company’s stock worth $120,817,000 after buying an additional 427,827 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Celldex Therapeutics by 105.3% in the fourth quarter. Point72 Asset Management L.P. now owns 2,756,122 shares of the biopharmaceutical company’s stock worth $109,308,000 after buying an additional 1,413,722 shares during the last quarter. Affinity Asset Advisors LLC boosted its holdings in shares of Celldex Therapeutics by 166.7% in the fourth quarter. Affinity Asset Advisors LLC now owns 400,000 shares of the biopharmaceutical company’s stock worth $15,864,000 after buying an additional 250,000 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Celldex Therapeutics by 631.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock worth $129,571,000 after buying an additional 2,664,915 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Celldex Therapeutics by 17.8% in the first quarter. Swiss National Bank now owns 114,300 shares of the biopharmaceutical company’s stock worth $4,797,000 after buying an additional 17,300 shares during the last quarter.

About Celldex Therapeutics

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.