Celldex Therapeutics (NASDAQ:CLDX) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley initiated coverage on shares of Celldex Therapeutics (NASDAQ:CLDX) in a report issued on Thursday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $46.00 price target on the biopharmaceutical company’s stock. Morgan Stanley’s price target would indicate a potential upside of 130.58% from the stock’s previous close.

Several other brokerages have also issued reports on CLDX. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a report on Wednesday, January 29th. The Goldman Sachs Group cut their price objective on shares of Celldex Therapeutics from $42.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. UBS Group began coverage on shares of Celldex Therapeutics in a research report on Thursday, February 13th. They issued a “buy” rating and a $44.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Celldex Therapeutics in a report on Friday, February 28th. Two investment 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.33.

Celldex Therapeutics Stock Up 0.3 %

CLDX stock opened at $19.95 on Thursday. The company has a 50 day moving average of $22.44 and a two-hundred day moving average of $27.45. Celldex Therapeutics has a 12-month low of $18.61 and a 12-month high of $47.00. The company has a market cap of $1.32 billion, a price-to-earnings ratio of -7.76 and a beta of 1.76.

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

Institutional Trading of Celldex Therapeutics

A number of hedge funds have recently modified their holdings of CLDX. KBC Group NV increased its position in shares of Celldex Therapeutics by 31.2% during the third quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 495 shares during the period. Invesco Ltd. lifted its holdings in Celldex Therapeutics by 2.1% during the 4th quarter. Invesco Ltd. now owns 42,101 shares of the biopharmaceutical company’s stock valued at $1,064,000 after purchasing an additional 871 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Celldex Therapeutics by 215.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 878 shares during the last quarter. Swiss National Bank boosted its position in Celldex Therapeutics by 1.2% in the fourth quarter. Swiss National Bank now owns 117,300 shares of the biopharmaceutical company’s stock valued at $2,964,000 after buying an additional 1,400 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Celldex Therapeutics by 5.1% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 42,628 shares of the biopharmaceutical company’s stock worth $1,449,000 after buying an additional 2,070 shares during 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.