Celldex Therapeutics (NASDAQ:CLDX) PT Raised to $60.00

Celldex Therapeutics (NASDAQ:CLDX) had its target price hoisted by stock analysts at HC Wainwright from $54.00 to $60.00 in a report released on Monday, The Fly reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price target would indicate a potential upside of 12.57% from the company’s previous close.

Several other equities research analysts have also issued reports on CLDX. SVB Leerink began coverage on Celldex Therapeutics in a research report on Friday, September 10th. They set an “outperform” rating and a $68.00 price target on the stock. Guggenheim began coverage on Celldex Therapeutics in a research note on Thursday, July 22nd. They set a “buy” rating and a $66.00 price objective for the company. Finally, Zacks Investment Research upgraded Celldex Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 3rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $50.40.

CLDX stock opened at $53.30 on Monday. The firm has a market cap of $2.48 billion, a P/E ratio of -31.92 and a beta of 3.06. Celldex Therapeutics has a 12-month low of $11.52 and a 12-month high of $56.17. The stock’s 50 day simple moving average is $46.28 and its 200 day simple moving average is $33.84.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings results on Thursday, August 5th. The biopharmaceutical company reported ($0.34) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.06. The business had revenue of $3.48 million for the quarter, compared to analyst estimates of $1.13 million. Celldex Therapeutics had a negative return on equity of 26.76% and a negative net margin of 766.16%. On average, equities research analysts forecast that Celldex Therapeutics will post -1.5 earnings per share for the current fiscal year.

In other news, CFO Samuel Bates Martin sold 2,738 shares of the stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $45.25, for a total value of $123,894.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CLDX. BNP Paribas Arbitrage SA boosted its stake in Celldex Therapeutics by 370.4% during the second quarter. BNP Paribas Arbitrage SA now owns 1,510 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 1,189 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Celldex Therapeutics during the first quarter valued at about $51,000. First Mercantile Trust Co. bought a new position in Celldex Therapeutics during the first quarter valued at about $72,000. Royal Bank of Canada bought a new position in Celldex Therapeutics during the second quarter valued at about $90,000. Finally, Pinz Capital Management LP bought a new position in Celldex Therapeutics during the first quarter valued at about $103,000. 75.77% of the stock is owned by institutional investors.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc engages in the business of development, manufacturing and commercialization of novel therapeutics for human health care. Its drug candidates have the ability to engage the human immune system and directly inhibit tumors to treat specific types of cancer and other diseases. Its pipeline includes Varlilumab, CDX-1140, and CDX-301, and CDX-3379.

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