Celldex Therapeutics (NASDAQ:CLDX) Upgraded by Wells Fargo & Company to Strong-Buy

Celldex Therapeutics (NASDAQ:CLDX) was upgraded by analysts at Wells Fargo & Company from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday, Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a research report on Thursday. Wolfe Research reiterated an “outperform” rating and set a $51.00 price target on shares of Celldex Therapeutics in a report on Wednesday. Stifel Nicolaus began coverage on Celldex Therapeutics in a research note on Tuesday, June 18th. They issued a “buy” rating and a $58.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $63.83.

Celldex Therapeutics Stock Down 8.8 %

Shares of NASDAQ:CLDX opened at $32.86 on Thursday. The business’s 50 day moving average is $38.51 and its 200 day moving average is $38.47. Celldex Therapeutics has a 12-month low of $22.11 and a 12-month high of $53.18. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of -11.53 and a beta of 1.56.

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

Hedge Funds Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLDX. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Celldex Therapeutics during the 2nd quarter valued at approximately $76,000. Teachers Retirement System of The State of Kentucky raised its holdings in Celldex Therapeutics by 32.0% during the 2nd 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 acquiring an additional 9,829 shares during the period. Novo Holdings A S purchased a new stake in shares of Celldex Therapeutics during the second quarter worth $31,458,000. Algert Global LLC boosted its holdings 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 worth $2,798,000 after acquiring an additional 32,564 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in shares of Celldex Therapeutics by 47.5% in 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.