Canaccord Genuity Group Cuts Celldex Therapeutics (NASDAQ:CLDX) Price Target to $60.00

Celldex Therapeutics (NASDAQ:CLDX) had its price target reduced by Canaccord Genuity Group from $62.00 to $60.00 in a research report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Several other research analysts have also issued reports on CLDX. HC Wainwright reiterated a “buy” rating and set a $42.00 price objective on shares of Celldex Therapeutics in a research note on Monday, June 15th. Guggenheim upped their target price on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Wall Street Zen upgraded shares of Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Wells Fargo & Company lifted their price target on shares of Celldex Therapeutics from $38.00 to $54.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Finally, Barclays boosted their price target on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.77.

Celldex Therapeutics Trading Down 0.4%

Shares of CLDX opened at $35.28 on Wednesday. Celldex Therapeutics has a 1 year low of $19.72 and a 1 year high of $40.30. The stock has a 50 day simple moving average of $33.64 and a 200-day simple moving average of $30.68. The stock has a market cap of $2.77 billion, a PE ratio of -8.28 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.80 million. On average, sell-side analysts forecast that Celldex Therapeutics will post -4.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

Several institutional investors have recently bought and sold shares of CLDX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Celldex Therapeutics by 1.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,451 shares of the biopharmaceutical company’s stock worth $798,000 after purchasing an additional 680 shares during the last quarter. Millennium Management LLC lifted its position in Celldex Therapeutics by 327.3% during the 1st quarter. Millennium Management LLC now owns 399,932 shares of the biopharmaceutical company’s stock worth $7,259,000 after buying an additional 306,330 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Celldex Therapeutics by 12.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 131,296 shares of the biopharmaceutical company’s stock worth $2,383,000 after acquiring an additional 14,979 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Celldex Therapeutics by 27.6% in the second quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 501 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Celldex Therapeutics in the second quarter worth about $347,000.

Celldex Therapeutics Company Profile

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.