Celldex Therapeutics (NASDAQ:CLDX) Earns Buy Rating from Analysts at UBS Group

Equities research analysts at UBS Group assumed coverage on shares of Celldex Therapeutics (NASDAQ:CLDX) in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $44.00 price target on the biopharmaceutical company’s stock. UBS Group’s target price indicates a potential upside of 97.66% from the company’s previous close.

CLDX has been the subject of several other research reports. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Celldex Therapeutics in a research report on Thursday, December 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 target price on shares of Celldex Therapeutics in a research report on Wednesday, January 29th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.22.

Celldex Therapeutics Stock Performance

Shares of NASDAQ CLDX opened at $22.26 on Thursday. Celldex Therapeutics has a 1 year low of $20.91 and a 1 year high of $53.18. The stock’s 50-day simple moving average is $24.93 and its 200-day simple moving average is $30.08. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of -8.66 and a beta of 1.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its position in Celldex Therapeutics by 32.0% in the third quarter. Jennison Associates LLC now owns 1,324,410 shares of the biopharmaceutical company’s stock worth $45,017,000 after buying an additional 321,325 shares during the period. Novo Holdings A S increased its holdings in shares of Celldex Therapeutics by 13.4% in the 3rd quarter. Novo Holdings A S now owns 963,663 shares of the biopharmaceutical company’s stock worth $32,755,000 after acquiring an additional 113,663 shares during the period. BNP Paribas Financial Markets lifted its position in Celldex Therapeutics by 293.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 28,181 shares of the biopharmaceutical company’s stock valued at $958,000 after purchasing an additional 21,013 shares during the last quarter. Bellevue Group AG lifted its position in Celldex Therapeutics by 3.4% in the 3rd quarter. Bellevue Group AG now owns 3,071,615 shares of the biopharmaceutical company’s stock valued at $104,404,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Celldex Therapeutics during the third quarter valued at approximately $871,000.

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.