Celldex Therapeutics (NASDAQ:CLDX) Lifted 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 report released on Thursday morning, Zacks.com reports.

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

Celldex Therapeutics Stock Up 1.0 %

Shares of NASDAQ:CLDX opened at $33.20 on Thursday. Celldex Therapeutics has a 52-week low of $22.11 and a 52-week high of $53.18. The stock’s fifty day simple moving average is $38.35 and its 200-day simple moving average is $38.34. The company has a market capitalization of $2.19 billion, a P/E ratio of -11.65 and a beta of 1.56.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.05. Celldex Therapeutics had a negative return on equity of 23.66% and a negative net margin of 1,809.18%. The firm had revenue of $2.50 million for the quarter, compared to the consensus estimate of $1.13 million. On average, sell-side analysts anticipate that Celldex Therapeutics will post -2.5 earnings per share for the current year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of large investors have recently modified their holdings of CLDX. UBS Group AG raised its holdings in shares of Celldex Therapeutics by 645.9% in the 4th quarter. UBS Group AG now owns 158,092 shares of the biopharmaceutical company’s stock worth $6,270,000 after purchasing an additional 136,897 shares during the period. Capstone Investment Advisors LLC purchased a new position in shares of Celldex Therapeutics in the 4th quarter worth about $502,000. Crestline Management LP raised its holdings in shares of Celldex Therapeutics by 6.5% in the 4th quarter. Crestline Management LP now owns 67,243 shares of the biopharmaceutical company’s stock worth $2,667,000 after purchasing an additional 4,133 shares during the period. NEOS Investment Management LLC acquired a new stake in shares of Celldex Therapeutics in the fourth quarter valued at about $458,000. Finally, Affinity Asset Advisors LLC grew its stake in shares of Celldex Therapeutics by 166.7% in the fourth quarter. Affinity Asset Advisors LLC now owns 400,000 shares of the biopharmaceutical company’s stock valued at $15,864,000 after buying an additional 250,000 shares in 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.