HC Wainwright Reiterates Buy Rating for Celldex Therapeutics (NASDAQ:CLDX)

Celldex Therapeutics (NASDAQ:CLDX)‘s stock had its “buy” rating reiterated by HC Wainwright in a research report issued on Wednesday, Benzinga reports. They presently have a $80.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 101.66% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Guggenheim raised their target price on Celldex Therapeutics from $72.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research report on Friday, March 22nd. Finally, TD Cowen initiated coverage on shares of Celldex Therapeutics in a research report on Wednesday, December 20th. They issued an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Celldex Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $66.00.

Celldex Therapeutics Stock Up 2.8 %

Celldex Therapeutics stock traded up $1.07 during trading on Wednesday, reaching $39.67. The stock had a trading volume of 655,304 shares, compared to its average volume of 902,647. Celldex Therapeutics has a 52-week low of $22.11 and a 52-week high of $53.18. The business has a 50 day moving average price of $41.98 and a 200 day moving average price of $35.68. The stock has a market cap of $2.22 billion, a PE ratio of -13.58 and a beta of 1.49.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Monday, February 26th. The biopharmaceutical company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.19. Celldex Therapeutics had a negative net margin of 2,054.46% and a negative return on equity of 41.06%. The firm had revenue of $4.13 million during the quarter, compared to the consensus estimate of $1.20 million. On average, equities analysts predict that Celldex Therapeutics will post -2.85 EPS for the current fiscal year.

Institutional Trading of Celldex Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Celldex Therapeutics by 19.2% during the 4th quarter. Wellington Management Group LLP now owns 6,476,561 shares of the biopharmaceutical company’s stock worth $256,860,000 after purchasing an additional 1,044,728 shares during the period. Eventide Asset Management LLC boosted its stake in shares of Celldex Therapeutics by 126.9% in the fourth quarter. Eventide Asset Management LLC now owns 3,630,013 shares of the biopharmaceutical company’s stock valued at $143,966,000 after buying an additional 2,030,013 shares in the last quarter. BlackRock Inc. grew its holdings in Celldex Therapeutics by 0.8% during the first quarter. BlackRock Inc. now owns 3,250,638 shares of the biopharmaceutical company’s stock worth $116,958,000 after acquiring an additional 25,922 shares during the period. State Street Corp raised its position in Celldex Therapeutics by 20.4% in the second quarter. State Street Corp now owns 3,228,852 shares of the biopharmaceutical company’s stock worth $87,050,000 after acquiring an additional 546,124 shares in the last quarter. Finally, Kynam Capital Management LP lifted its holdings in Celldex Therapeutics by 23.1% in the third quarter. Kynam Capital Management LP now owns 3,200,000 shares of the biopharmaceutical company’s stock valued at $88,064,000 after acquiring an additional 600,000 shares during the period.

About Celldex Therapeutics

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.