Celldex Therapeutics (NASDAQ:CLDX) Rating Increased to Strong-Buy at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Celldex Therapeutics (NASDAQ:CLDX) from a hold rating to a strong-buy rating in a research note published on Thursday morning, Zacks.com reports.

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

Celldex Therapeutics Stock Performance

Shares of Celldex Therapeutics stock opened at $32.86 on Thursday. The firm has a 50-day simple moving average of $38.51 and a two-hundred day simple moving average of $38.47. Celldex Therapeutics has a fifty-two week low of $22.11 and a fifty-two week high of $53.18. The company has a market cap of $2.18 billion, a P/E ratio of -11.53 and a beta of 1.56.

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

Hedge Funds Weigh In On Celldex Therapeutics

Institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Celldex Therapeutics in the 2nd quarter valued at approximately $76,000. Headlands Technologies LLC purchased a new position in Celldex Therapeutics in the first quarter worth approximately $147,000. CANADA LIFE ASSURANCE Co increased its stake in Celldex Therapeutics by 26.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock worth $192,000 after acquiring an additional 955 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Celldex Therapeutics by 34.3% in the first quarter. Ameritas Investment Partners Inc. now owns 6,198 shares of the biopharmaceutical company’s stock valued at $260,000 after purchasing an additional 1,582 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Celldex Therapeutics in the 1st quarter valued at $283,000.

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.