Brokerages Set Celldex Therapeutics, Inc. (NASDAQ:CLDX) Target Price at $62.25

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $62.25.

Several brokerages have recently weighed in on CLDX. Citigroup began coverage on Celldex Therapeutics in a report on Monday, October 7th. They set a “buy” rating and a $70.00 price objective on the stock. Wells Fargo & Company upgraded Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. Wolfe Research downgraded Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 27th. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research report on Monday, September 16th. Finally, HC Wainwright restated a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a research report on Thursday, September 26th.

Celldex Therapeutics Price Performance

Shares of NASDAQ:CLDX opened at $28.25 on Monday. Celldex Therapeutics has a 1-year low of $22.11 and a 1-year high of $53.18. The business’s 50 day moving average is $36.33 and its 200-day moving average is $37.07.

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

Hedge Funds Weigh In On Celldex Therapeutics

Several institutional investors have recently bought and sold shares of CLDX. Point72 Asia Singapore Pte. Ltd. bought a new position in Celldex Therapeutics in the 2nd quarter valued at $76,000. Headlands Technologies LLC bought a new stake in shares of Celldex Therapeutics during the first quarter worth $147,000. CANADA LIFE ASSURANCE Co raised its position in shares of Celldex Therapeutics by 26.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock worth $192,000 after acquiring an additional 955 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in shares of Celldex Therapeutics by 34.3% during the first quarter. Ameritas Investment Partners Inc. now owns 6,198 shares of the biopharmaceutical company’s stock worth $260,000 after acquiring an additional 1,582 shares during the last quarter. Finally, Quest Partners LLC raised its position in shares of Celldex Therapeutics by 1,364.9% during the second quarter. Quest Partners LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $273,000 after acquiring an additional 6,879 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.