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 report released on Thursday, Zacks.com reports.

A number of other brokerages have also recently weighed in on CLDX. HC Wainwright restated a buy rating and issued a $80.00 price target on shares of Celldex Therapeutics in a research report on Thursday. Wolfe Research restated an outperform rating and set a $51.00 price target on shares of Celldex Therapeutics in a research note on Wednesday, September 25th. Stifel Nicolaus initiated coverage on shares of Celldex Therapeutics in a research note on Tuesday, June 18th. They set a buy rating and a $58.00 price objective on the stock. 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 equities research 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 currently has an average rating of Buy and an average price target of $63.83.

Celldex Therapeutics Stock Up 1.0 %

NASDAQ:CLDX opened at $33.20 on Thursday. The company has a market capitalization of $2.19 billion, a PE ratio of -11.65 and a beta of 1.56. Celldex Therapeutics has a 52-week low of $22.11 and a 52-week high of $53.18. The stock’s 50 day moving average price is $38.35 and its 200 day moving average price is $38.29.

Celldex Therapeutics (NASDAQ:CLDX) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.05. Celldex Therapeutics had a negative net margin of 1,809.18% and a negative return on equity of 23.66%. The business had revenue of $2.50 million during the quarter, compared to analysts’ expectations of $1.13 million. As a group, sell-side analysts anticipate that Celldex Therapeutics will post -2.5 EPS for the current fiscal year.

Institutional Trading of Celldex Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Celldex Therapeutics in the second quarter valued at about $76,000. Headlands Technologies LLC acquired a new stake in Celldex Therapeutics during the 1st quarter worth approximately $147,000. CANADA LIFE ASSURANCE Co lifted its holdings in Celldex Therapeutics by 26.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock worth $192,000 after buying an additional 955 shares during the period. Ameritas Investment Partners Inc. increased its position in Celldex Therapeutics by 34.3% during the 1st 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, Quest Partners LLC boosted its stake in shares of Celldex Therapeutics by 1,364.9% in the 2nd quarter. Quest Partners LLC now owns 7,383 shares of the biopharmaceutical company’s stock valued at $273,000 after purchasing an additional 6,879 shares during 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.