Celldex Therapeutics (NASDAQ:CLDX) Stock Rating Lowered by Wolfe Research

Celldex Therapeutics (NASDAQ:CLDX) was downgraded by equities researchers at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Friday, Marketbeat.com reports.

Other research analysts have also issued research reports about the company. Wells Fargo & Company upgraded Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday. HC Wainwright reiterated a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a report on Monday, September 16th. Finally, Stifel Nicolaus assumed coverage on Celldex Therapeutics in a report on Tuesday, June 18th. They set a “buy” rating and a $58.00 price target on the stock. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $63.83.

Celldex Therapeutics Stock Performance

Shares of CLDX stock opened at $33.20 on Friday. The stock’s fifty day moving average is $38.35 and its two-hundred day moving average is $38.34. The firm has a market capitalization of $2.19 billion, a P/E ratio of -11.65 and a beta of 1.56. Celldex Therapeutics has a fifty-two week low of $22.11 and a fifty-two week high of $53.18.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, beating 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 company had revenue of $2.50 million for the quarter, compared to analyst estimates of $1.13 million. On average, equities analysts forecast that Celldex Therapeutics will post -2.5 earnings per share for the current year.

Institutional Trading of Celldex Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP increased its position in shares of 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 last quarter. Vanguard Group Inc. grew its position in Celldex Therapeutics by 19.8% in the 1st quarter. Vanguard Group Inc. now owns 3,650,582 shares of the biopharmaceutical company’s stock valued at $153,215,000 after acquiring an additional 604,251 shares in the last quarter. Eventide Asset Management LLC grew its position in Celldex Therapeutics by 126.9% in the 4th quarter. Eventide Asset Management LLC now owns 3,630,013 shares of the biopharmaceutical company’s stock valued at $143,966,000 after acquiring an additional 2,030,013 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Celldex Therapeutics by 631.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock valued at $129,571,000 after acquiring an additional 2,664,915 shares in the last quarter. Finally, Bellevue Group AG grew its position in Celldex Therapeutics by 15.7% in the 1st quarter. Bellevue Group AG now owns 2,796,615 shares of the biopharmaceutical company’s stock valued at $117,374,000 after acquiring an additional 380,319 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.