Celldex Therapeutics Inc. (NASDAQ:CLDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm currently has a $5.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s price target suggests a potential upside of 24.69% from the stock’s previous close.

According to Zacks, “Celldex’s third-quarter results were encouraging with the company reporting narrower-than-expected loss and revenues surpassing expectations. The company’s efforts to build its immuno-oncology pipeline are also impressive.  The upcoming Kolltan acquisition bodes well for the company. Meanwhile, Celldex’s lead pipeline candidate, glembatumumab vedotin, is in mid-stage development for different types of cancer. We are encouraged by Celldex’s partnership agreements with big players like Bristol-Myers and Roche. However, with no approved product in its portfolio, Celldex has to depend entirely on product development and licensing agreements, contracts and grants for revenues. We are also concerned about the early-to mid- stage nature of its pipeline. With a number of ongoing studies, any development or regulatory setback would weigh heavily on the stock. Stiff competition in the immuno-oncology space remains a threat as well.”

Several other analysts have also recently weighed in on CLDX. Roth Capital set a $7.00 price objective on Celldex Therapeutics and gave the stock a “buy” rating in a report on Wednesday, November 2nd. Wedbush reaffirmed a “neutral” rating and issued a $3.00 price target on shares of Celldex Therapeutics in a research note on Tuesday, November 8th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $9.00 price target on shares of Celldex Therapeutics in a research note on Tuesday, November 8th. Jefferies Group reaffirmed a “hold” rating and issued a $5.00 price target (up from $4.00) on shares of Celldex Therapeutics in a research note on Thursday, August 11th. Finally, Aegis began coverage on Celldex Therapeutics in a research note on Monday, November 7th. They issued a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Celldex Therapeutics has a consensus rating of “Buy” and a consensus target price of $7.44.

Analyst Recommendations for Celldex Therapeutics (NASDAQ:CLDX)

Celldex Therapeutics (NASDAQ:CLDX) opened at 4.02 on Monday. The company’s market cap is $407.02 million. The company’s 50-day moving average is $3.77 and its 200 day moving average is $4.09. Celldex Therapeutics has a 12 month low of $2.85 and a 12 month high of $18.31.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.04. The firm earned $2.20 million during the quarter, compared to analysts’ expectations of $1.09 million. Celldex Therapeutics had a negative return on equity of 51.46% and a negative net margin of 1,923.41%. The company’s quarterly revenue was up 115.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.32) EPS. Equities analysts forecast that Celldex Therapeutics will post ($1.29) earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the company. Veritable L.P. purchased a new position in Celldex Therapeutics during the second quarter worth $132,000. Virginia Retirement Systems ET AL purchased a new position in Celldex Therapeutics during the third quarter worth $150,000. AMP Capital Investors Ltd purchased a new position in Celldex Therapeutics during the third quarter worth $177,000. Bank of Montreal Can purchased a new position in Celldex Therapeutics during the second quarter worth $188,000. Finally, BlackRock Advisors LLC increased its position in Celldex Therapeutics by 12.2% in the third quarter. BlackRock Advisors LLC now owns 52,107 shares of the biopharmaceutical company’s stock worth $211,000 after buying an additional 5,683 shares during the period. 67.97% of the stock is owned by hedge funds and other institutional investors.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of several immunotherapy technologies for the treatment of cancer and other diseases. Its lead drug Rintega (rindopepimut and CDX-110) is a therapeutic vaccine in clinical studies for the treatment of glioblastoma patients that express a specific cancer marker known as type III epidermal growth factor receptor mutation (EGFRvIII).

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