Celldex Therapeutics (NASDAQ:CLDX) Given New $45.00 Price Target at UBS Group

Celldex Therapeutics (NASDAQ:CLDX) had its price objective raised by investment analysts at UBS Group from $38.00 to $45.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. UBS Group’s price target points to a potential upside of 53.01% from the company’s previous close.

Several other brokerages have also commented on CLDX. Wolfe Research raised Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price objective for the company in a report on Monday, March 23rd. Barclays boosted their price objective on Celldex Therapeutics from $45.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. The Goldman Sachs Group boosted their price objective on Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Monday, April 20th. Finally, Wells Fargo & Company boosted their price objective on Celldex Therapeutics from $38.00 to $54.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $49.30.

Celldex Therapeutics Price Performance

Shares of CLDX traded down $0.19 during midday trading on Wednesday, hitting $29.41. 133,132 shares of the company traded hands, compared to its average volume of 892,411. The stock has a 50-day moving average of $31.92 and a 200-day moving average of $28.75. Celldex Therapeutics has a one year low of $19.52 and a one year high of $35.79. The firm has a market cap of $2.31 billion, a P/E ratio of -6.91 and a beta of 0.95.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings data 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 firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.80 million. Sell-side analysts forecast that Celldex Therapeutics will post -4.36 EPS for the current fiscal year.

Institutional Trading of Celldex Therapeutics

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