Celldex Therapeutics’ (CLDX) Buy Rating Reaffirmed at HC Wainwright

Celldex Therapeutics (NASDAQ:CLDX)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a report issued on Thursday,Benzinga reports. They currently have a $80.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price points to a potential upside of 218.22% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Citigroup started coverage on shares of Celldex Therapeutics in a research report on Monday, October 7th. They issued a “buy” rating and a $70.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Celldex Therapeutics in a research report on Monday, September 30th. They set a “neutral” rating and a $45.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research note on Monday, September 16th. Wolfe Research cut Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research report on Friday, September 27th. Finally, Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Celldex Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $62.25.

Celldex Therapeutics Trading Down 0.9 %

Shares of CLDX opened at $25.14 on Thursday. The business’s 50-day moving average price is $26.79 and its 200 day moving average price is $33.36. The stock has a market capitalization of $1.67 billion, a P/E ratio of -9.78 and a beta of 1.57. Celldex Therapeutics has a 1-year low of $22.93 and a 1-year high of $53.18.

Insider Transactions at Celldex Therapeutics

In other news, CEO Anthony S. Marucci purchased 11,500 shares of Celldex Therapeutics stock in a transaction dated Monday, November 11th. The stock was acquired at an average cost of $26.82 per share, for a total transaction of $308,430.00. Following the acquisition, the chief executive officer now directly owns 40,284 shares in the company, valued at $1,080,416.88. This represents a 39.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Celldex Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaCentric Advisors LLC increased its position in Celldex Therapeutics by 23.4% during the second quarter. AlphaCentric Advisors LLC now owns 47,500 shares of the biopharmaceutical company’s stock worth $1,758,000 after buying an additional 9,000 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Celldex Therapeutics by 14.6% during the 2nd 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Celldex Therapeutics by 40.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,111 shares of the biopharmaceutical company’s stock valued at $522,000 after acquiring an additional 4,093 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in Celldex Therapeutics in the 2nd quarter worth approximately $4,380,000. Finally, Arizona State Retirement System lifted its holdings in Celldex Therapeutics by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 16,231 shares of the biopharmaceutical company’s stock worth $601,000 after purchasing an additional 325 shares during the last quarter.

About Celldex Therapeutics

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.