The Goldman Sachs Group Cuts Celldex Therapeutics (NASDAQ:CLDX) Price Target to $36.00

Celldex Therapeutics (NASDAQ:CLDX) had its price objective lowered by The Goldman Sachs Group from $42.00 to $36.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the biopharmaceutical company’s stock.

Several other analysts have also commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a report on Friday, February 28th. UBS Group initiated coverage on Celldex Therapeutics in a report on Thursday, February 13th. They set a “buy” rating and a $44.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.38.

Celldex Therapeutics Stock Performance

Shares of CLDX stock opened at $21.10 on Monday. The stock’s 50-day simple moving average is $23.56 and its 200-day simple moving average is $28.64. The firm has a market capitalization of $1.40 billion, a PE ratio of -8.21 and a beta of 1.76. Celldex Therapeutics has a fifty-two week low of $18.61 and a fifty-two week high of $50.73.

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

Hedge Funds Weigh In On Celldex Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Celldex Therapeutics by 14.5% in the third quarter. Wellington Management Group LLP now owns 9,243,599 shares of the biopharmaceutical company’s stock valued at $314,190,000 after acquiring an additional 1,167,659 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Celldex Therapeutics by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 3,881,995 shares of the biopharmaceutical company’s stock valued at $98,098,000 after acquiring an additional 12,213 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Celldex Therapeutics by 23.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,557,136 shares of the biopharmaceutical company’s stock valued at $89,890,000 after acquiring an additional 676,771 shares in the last quarter. Bellevue Group AG lifted its position in shares of Celldex Therapeutics by 3.4% in the third quarter. Bellevue Group AG now owns 3,071,615 shares of the biopharmaceutical company’s stock valued at $104,404,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Celldex Therapeutics by 50.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,515,972 shares of the biopharmaceutical company’s stock valued at $63,579,000 after acquiring an additional 847,264 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.