The Goldman Sachs Group Increases Celldex Therapeutics (NASDAQ:CLDX) Price Target to $34.00

Celldex Therapeutics (NASDAQ:CLDX) had its price target increased by equities research analysts at The Goldman Sachs Group from $30.00 to $34.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 12.23% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Stifel Nicolaus reiterated a “buy” rating and set a $68.00 price objective (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday. Barclays boosted their price target on Celldex Therapeutics from $21.00 to $24.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.50.

Celldex Therapeutics Trading Up 0.7%

Shares of Celldex Therapeutics stock traded up $0.21 during trading on Monday, reaching $30.30. The stock had a trading volume of 489,213 shares, compared to its average volume of 796,847. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -7.79 and a beta of 1.17. Celldex Therapeutics has a 52 week low of $14.40 and a 52 week high of $31.31. The stock has a fifty day moving average price of $25.70 and a two-hundred day moving average price of $25.52.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Wednesday, February 25th. The biopharmaceutical company reported ($1.22) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.22). Celldex Therapeutics had a negative net margin of 3,446.88% and a negative return on equity of 41.67%. The firm had revenue of $0.12 million during the quarter, compared to the consensus estimate of $1.53 million. On average, equities analysts forecast that Celldex Therapeutics will post -2.48 EPS for the current fiscal year.

Institutional Trading of Celldex Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its position in Celldex Therapeutics by 14.3% during the 4th quarter. Invesco Ltd. now owns 90,144 shares of the biopharmaceutical company’s stock worth $2,448,000 after buying an additional 11,258 shares during the period. ADAR1 Capital Management LLC increased its position in Celldex Therapeutics by 491.0% during the fourth quarter. ADAR1 Capital Management LLC now owns 646,767 shares of the biopharmaceutical company’s stock worth $17,566,000 after acquiring an additional 537,325 shares during the period. XTX Topco Ltd raised its stake in Celldex Therapeutics by 552.7% in the 4th quarter. XTX Topco Ltd now owns 51,523 shares of the biopharmaceutical company’s stock worth $1,399,000 after purchasing an additional 43,629 shares in the last quarter. Virtus Investment Advisers LLC boosted its holdings in Celldex Therapeutics by 72.9% in the 4th quarter. Virtus Investment Advisers LLC now owns 9,671 shares of the biopharmaceutical company’s stock valued at $263,000 after purchasing an additional 4,079 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Celldex Therapeutics by 39.3% during the fourth quarter. Wellington Management Group LLP now owns 8,079,608 shares of the biopharmaceutical company’s stock worth $219,442,000 after purchasing an additional 2,279,605 shares during the period.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company’s research platforms leverage novel antibody and vaccine technologies designed to engage the patient’s immune system, with a particular emphasis on oncology and neurologic indications. Celldex’s pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex’s lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.