Celldex Therapeutics (NASDAQ:CLDX) Price Target Cut to $38.00 by Analysts at UBS Group

Celldex Therapeutics (NASDAQ:CLDX) had its price objective cut by UBS Group from $44.00 to $38.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the biopharmaceutical company’s stock.

A number of other brokerages have also weighed in on CLDX. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Celldex Therapeutics in a report on Tuesday, May 6th. Canaccord Genuity Group began coverage on Celldex Therapeutics in a research note on Monday, April 28th. They set a “buy” rating and a $64.00 price target on the stock. The Goldman Sachs Group dropped their price objective on Celldex Therapeutics from $36.00 to $31.00 and set a “neutral” rating for the company in a report on Friday. Morgan Stanley cut their target price on shares of Celldex Therapeutics from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Celldex Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $53.90.

Celldex Therapeutics Price Performance

CLDX stock opened at $18.33 on Friday. The business has a fifty day moving average price of $18.99 and a 200 day moving average price of $22.80. Celldex Therapeutics has a fifty-two week low of $14.40 and a fifty-two week high of $47.00. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -7.13 and a beta of 1.39.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). The company had revenue of $0.70 million for the quarter, compared to analyst estimates of $1.08 million. Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. On average, equities analysts expect that Celldex Therapeutics will post -2.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Celldex Therapeutics by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,898,435 shares of the biopharmaceutical company’s stock worth $70,757,000 after purchasing an additional 16,440 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Celldex Therapeutics by 23.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,557,136 shares of the biopharmaceutical company’s stock worth $89,890,000 after buying an additional 676,771 shares during the period. Point72 Asset Management L.P. lifted its holdings in Celldex Therapeutics by 50.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,515,972 shares of the biopharmaceutical company’s stock worth $63,579,000 after acquiring an additional 847,264 shares in the last quarter. Deep Track Capital LP acquired a new position in Celldex Therapeutics in the fourth quarter valued at about $38,919,000. Finally, Rock Springs Capital Management LP increased its holdings in shares of Celldex Therapeutics by 10.7% in the fourth quarter. Rock Springs Capital Management LP now owns 1,222,182 shares of the biopharmaceutical company’s stock worth $30,885,000 after acquiring an additional 118,404 shares in the last quarter.

Celldex Therapeutics Company Profile

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.