Celldex Therapeutics (NASDAQ:CLDX) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Celldex Therapeutics (NASDAQ:CLDX) in a report published on Thursday morning, MarketBeat reports. The brokerage issued an overweight rating and a $46.00 target price on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the company. The Goldman Sachs Group reduced their price objective on Celldex Therapeutics from $42.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research report on Friday, February 28th. UBS Group assumed coverage on Celldex Therapeutics in a research report on Thursday, February 13th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.33.

Celldex Therapeutics Price Performance

Shares of NASDAQ:CLDX opened at $19.64 on Thursday. The business’s 50 day moving average price is $22.22 and its 200-day moving average price is $27.14. The firm has a market capitalization of $1.30 billion, a PE ratio of -7.64 and a beta of 1.76. Celldex Therapeutics has a 1 year low of $18.61 and a 1 year high of $47.00.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.02. The firm had revenue of $1.18 million for the quarter, compared to analyst estimates of $1.25 million. Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. As a group, analysts expect that Celldex Therapeutics will post -2.48 earnings per share for the current year.

Institutional Investors Weigh In On Celldex Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC raised its position in Celldex Therapeutics by 32.0% in the third quarter. Jennison Associates LLC now owns 1,324,410 shares of the biopharmaceutical company’s stock valued at $45,017,000 after purchasing an additional 321,325 shares during the period. Values First Advisors Inc. raised its position in Celldex Therapeutics by 20.0% in the fourth quarter. Values First Advisors Inc. now owns 29,009 shares of the biopharmaceutical company’s stock valued at $733,000 after purchasing an additional 4,837 shares during the period. BNP Paribas Financial Markets raised its position in Celldex Therapeutics by 293.2% in the third quarter. BNP Paribas Financial Markets now owns 28,181 shares of the biopharmaceutical company’s stock valued at $958,000 after purchasing an additional 21,013 shares during the period. Bellevue Group AG raised its position in Celldex Therapeutics by 3.4% in the third quarter. Bellevue Group AG now owns 3,071,615 shares of the biopharmaceutical company’s stock valued at $104,404,000 after purchasing an additional 100,000 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in Celldex Therapeutics in the third quarter valued at $871,000.

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.