Celldex Therapeutics, Inc. (NASDAQ:CLDX) Receives $62.25 Average Price Target from Analysts

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has earned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $62.25.

A number of equities analysts have weighed in on CLDX shares. The Goldman Sachs Group began coverage on Celldex Therapeutics in a research report on Monday, September 30th. They set a “neutral” rating and a $45.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 price target on shares of Celldex Therapeutics in a research note on Monday, September 16th. Citigroup initiated coverage on shares of Celldex Therapeutics in a research note on Monday, October 7th. They set a “buy” rating and a $70.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Celldex Therapeutics in a research report on Thursday, December 19th. Finally, Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th.

Insider Buying and Selling at Celldex Therapeutics

In related news, CEO Anthony S. Marucci acquired 11,500 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were purchased at an average cost of $26.82 per share, for a total transaction of $308,430.00. Following the completion of the acquisition, the chief executive officer now directly owns 40,284 shares in the company, valued at approximately $1,080,416.88. This trade represents a 39.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Celldex Therapeutics

A number of large investors have recently made changes to their positions in the company. Novo Holdings A S boosted its stake in Celldex Therapeutics by 13.4% in the 3rd quarter. Novo Holdings A S now owns 963,663 shares of the biopharmaceutical company’s stock valued at $32,755,000 after purchasing an additional 113,663 shares during the period. Jennison Associates LLC boosted its position in shares of Celldex Therapeutics by 32.0% in the third quarter. Jennison Associates LLC now owns 1,324,410 shares of the biopharmaceutical company’s stock valued at $45,017,000 after acquiring an additional 321,325 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Celldex Therapeutics by 51.0% in the second quarter. Point72 Asset Management L.P. now owns 1,937,991 shares of the biopharmaceutical company’s stock valued at $71,725,000 after acquiring an additional 654,194 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Celldex Therapeutics by 14.6% in the second quarter. Bank of New York Mellon Corp now owns 230,162 shares of the biopharmaceutical company’s stock valued at $8,518,000 after acquiring an additional 29,324 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Celldex Therapeutics by 293.2% during the third quarter. BNP Paribas Financial Markets now owns 28,181 shares of the biopharmaceutical company’s stock worth $958,000 after acquiring an additional 21,013 shares during the period.

Celldex Therapeutics Price Performance

CLDX stock opened at $25.27 on Friday. The stock has a market capitalization of $1.68 billion, a P/E ratio of -9.83 and a beta of 1.57. Celldex Therapeutics has a fifty-two week low of $22.93 and a fifty-two week high of $53.18. The business has a 50-day moving average of $26.17 and a 200-day moving average of $32.81.

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.