Celldex Therapeutics (NASDAQ:CLDX) Now Covered by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Celldex Therapeutics (NASDAQ:CLDX) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm issued an overweight rating and a $46.00 target price on the biopharmaceutical company’s stock.

Several other equities research analysts have also commented on CLDX. The Goldman Sachs Group lowered their price objective on Celldex Therapeutics from $42.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. UBS Group assumed coverage on shares of Celldex Therapeutics in a report on Thursday, February 13th. They set a “buy” rating and a $44.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a report on Wednesday, January 29th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.

Celldex Therapeutics Trading Down 0.4 %

Shares of NASDAQ CLDX opened at $19.88 on Thursday. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -7.74 and a beta of 1.76. Celldex Therapeutics has a 12 month low of $18.61 and a 12 month high of $47.00. The company has a 50 day simple moving average of $22.31 and a two-hundred day simple moving average of $27.39.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Polar Asset Management Partners Inc. increased its stake in Celldex Therapeutics by 1,318.0% during the 4th quarter. Polar Asset Management Partners Inc. now owns 137,550 shares of the biopharmaceutical company’s stock worth $3,476,000 after buying an additional 127,850 shares in the last quarter. TFG Asset Management GP Ltd acquired a new position in Celldex Therapeutics in the 4th quarter valued at $4,852,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Celldex Therapeutics by 13.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 116,317 shares of the biopharmaceutical company’s stock valued at $2,939,000 after purchasing an additional 13,722 shares in the last quarter. Vestal Point Capital LP acquired a new stake in Celldex Therapeutics during the 4th quarter worth $7,707,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Celldex Therapeutics during the fourth quarter worth $835,000.

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.