Celldex Therapeutics (NASDAQ:CLDX) Stock Rating Upgraded by Barclays

Celldex Therapeutics (NASDAQ:CLDX) was upgraded by stock analysts at Barclays from an “underweight” rating to an “overweight” rating in a research note issued on Monday. The firm currently has a $45.00 price target on the biopharmaceutical company’s stock. Barclays‘s target price points to a potential upside of 30.25% from the company’s previous close.

CLDX has been the topic of a number of other research reports. Wolfe Research raised Celldex Therapeutics from a “peer perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Monday, March 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Celldex Therapeutics in a report on Wednesday, January 21st. Finally, The Goldman Sachs Group upped their price objective on shares of Celldex Therapeutics from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Celldex Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $46.36.

Celldex Therapeutics Stock Performance

Shares of Celldex Therapeutics stock opened at $34.55 on Monday. The company’s 50-day moving average price is $29.33 and its 200-day moving average price is $27.29. Celldex Therapeutics has a 12-month low of $17.85 and a 12-month high of $35.29. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -8.88 and a beta of 1.19.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings data on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.22). The company had revenue of $0.12 million for the quarter, compared to the consensus estimate of $1.53 million. On average, sell-side analysts predict that Celldex Therapeutics will post -2.48 earnings per share for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Celldex Therapeutics by 39.3% in the fourth quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock worth $219,442,000 after purchasing an additional 2,279,605 shares during the last quarter. Vanguard Group Inc. raised its holdings in Celldex Therapeutics by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 4,027,407 shares of the biopharmaceutical company’s stock worth $109,384,000 after purchasing an additional 72,817 shares during the period. Bellevue Group AG lifted its position in shares of Celldex Therapeutics by 7.6% during the 3rd quarter. Bellevue Group AG now owns 3,557,669 shares of the biopharmaceutical company’s stock valued at $92,037,000 after buying an additional 250,100 shares in the last quarter. Commodore Capital LP lifted its holdings 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 purchasing an additional 250,000 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Celldex Therapeutics by 19.5% during the 4th quarter. State Street Corp now owns 3,397,713 shares of the biopharmaceutical company’s stock valued at $92,282,000 after buying 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.