Celldex Therapeutics (NASDAQ:CLDX) Earns Outperform Rating from Wolfe Research

Wolfe Research reaffirmed their outperform rating on shares of Celldex Therapeutics (NASDAQ:CLDX) in a report issued on Wednesday, Marketbeat Ratings reports. Wolfe Research currently has a $51.00 price objective on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently issued reports on CLDX. HC Wainwright restated a buy rating and set a $80.00 price objective on shares of Celldex Therapeutics in a report on Monday, August 12th. Wells Fargo & Company boosted their price objective on Celldex Therapeutics from $35.00 to $37.00 and gave the stock an equal weight rating in a report on Monday, August 12th. Cantor Fitzgerald restated an overweight rating and set a $67.00 price objective on shares of Celldex Therapeutics in a report on Monday, September 16th. Finally, Stifel Nicolaus started coverage on Celldex Therapeutics in a report on Tuesday, June 18th. They set a buy rating and a $58.00 price objective for the company. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Celldex Therapeutics currently has a consensus rating of Buy and a consensus price target of $63.83.

Celldex Therapeutics Stock Performance

Celldex Therapeutics stock opened at $33.20 on Wednesday. Celldex Therapeutics has a 52 week low of $22.11 and a 52 week high of $53.18. The stock has a market capitalization of $2.20 billion, a P/E ratio of -11.61 and a beta of 1.56. The stock has a 50-day simple moving average of $38.42 and a 200 day simple moving average of $38.43.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.05. Celldex Therapeutics had a negative return on equity of 23.66% and a negative net margin of 1,809.18%. The business had revenue of $2.50 million during the quarter, compared to analysts’ expectations of $1.13 million. Research analysts forecast that Celldex Therapeutics will post -2.5 earnings per share for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Celldex Therapeutics in the second quarter valued at approximately $76,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Celldex Therapeutics by 32.0% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 40,558 shares of the biopharmaceutical company’s stock valued at $1,501,000 after buying an additional 9,829 shares in the last quarter. Novo Holdings A S acquired a new stake in shares of Celldex Therapeutics in the second quarter valued at approximately $31,458,000. Algert Global LLC raised its position in shares of Celldex Therapeutics by 75.6% in the second quarter. Algert Global LLC now owns 75,614 shares of the biopharmaceutical company’s stock valued at $2,798,000 after buying an additional 32,564 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in Celldex Therapeutics by 47.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 845,560 shares of the biopharmaceutical company’s stock valued at $31,294,000 after purchasing an additional 272,389 shares in the last quarter.

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.