Celldex Therapeutics (NASDAQ:CLDX) Given New $48.00 Price Target at Barclays

Celldex Therapeutics (NASDAQ:CLDX) had its target price increased by Barclays from $45.00 to $48.00 in a research report released on Friday,Benzinga reports. The firm currently has an overweight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently commented on CLDX. Stifel Nicolaus reiterated a “buy” rating and issued a $68.00 price target (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. The Goldman Sachs Group increased their price target on Celldex Therapeutics from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. Finally, Wolfe Research upgraded Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 price target for the company in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Celldex Therapeutics Stock Performance

Celldex Therapeutics stock opened at $33.97 on Friday. The stock has a 50-day moving average of $31.69 and a two-hundred day moving average of $27.87. Celldex Therapeutics has a one year low of $18.20 and a one year high of $35.79. The stock has a market cap of $2.67 billion, a PE ratio of -7.97 and a beta of 0.98.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.15) by ($0.03). The business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.80 million. As a group, sell-side analysts predict that Celldex Therapeutics will post -4.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in Celldex Therapeutics by 39.3% during the fourth quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock valued at $219,442,000 after acquiring an additional 2,279,605 shares in the last quarter. Vanguard Group Inc. raised its position in Celldex Therapeutics by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 4,027,407 shares of the biopharmaceutical company’s stock valued at $109,384,000 after acquiring an additional 72,817 shares in the last quarter. Bellevue Group AG raised its position in Celldex Therapeutics by 7.6% during the third quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company’s stock valued at $92,037,000 after acquiring an additional 250,100 shares in the last quarter. Commodore Capital LP raised its position in Celldex Therapeutics by 7.8% during the second quarter. Commodore Capital LP now owns 3,450,000 shares of the biopharmaceutical company’s stock valued at $70,208,000 after acquiring an additional 250,000 shares in the last quarter. Finally, State Street Corp raised its position in Celldex Therapeutics by 19.5% during the fourth quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock valued at $92,282,000 after acquiring an additional 555,579 shares in the last quarter.

About Celldex Therapeutics

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.