Celldex Therapeutics (NASDAQ:CLDX) Earns Overweight Rating from Analysts at Morgan Stanley

Equities research analysts at Morgan Stanley assumed coverage on shares of Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) in a note issued to investors on Thursday, MarketBeat.com reports. The firm set an "overweight" rating and a $46.00 price target on the biopharmaceutical company's stock. Morgan Stanley's price objective indicates a potential upside of 121.37% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. UBS Group initiated coverage on shares of Celldex Therapeutics in a research report on Thursday, February 13th. They set a "buy" rating and a $44.00 target price for the company. HC Wainwright reiterated a "buy" rating and set a $80.00 price objective on shares of Celldex Therapeutics in a report on Friday, February 28th. The Goldman Sachs Group dropped their target price on Celldex Therapeutics from $42.00 to $36.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $67.00 price target on shares of Celldex Therapeutics in a research note on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $54.33.

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Celldex Therapeutics Stock Up 5.8 %

NASDAQ:CLDX traded up $1.14 during midday trading on Thursday, hitting $20.78. The stock had a trading volume of 963,598 shares, compared to its average volume of 825,575. The stock has a 50-day moving average of $22.15 and a 200 day moving average of $26.86. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -8.09 and a beta of 1.76. Celldex Therapeutics has a one year low of $18.61 and a one year high of $47.00.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) 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. The firm had revenue of $1.18 million during the quarter, compared to analysts' expectations of $1.25 million. Celldex Therapeutics had a negative net margin of 1,544.32% and a negative return on equity of 19.75%. On average, sell-side analysts anticipate that Celldex Therapeutics will post -2.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Celldex Therapeutics

A number of large investors have recently bought and sold shares of the company. KBC Group NV lifted its stake in Celldex Therapeutics by 31.2% during the 3rd quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company's stock valued at $71,000 after acquiring an additional 495 shares during the period. Invesco Ltd. lifted its position in Celldex Therapeutics by 2.1% during the fourth quarter. Invesco Ltd. now owns 42,101 shares of the biopharmaceutical company's stock valued at $1,064,000 after purchasing an additional 871 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Celldex Therapeutics by 215.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company's stock valued at $32,000 after purchasing an additional 878 shares during the last quarter. Swiss National Bank grew its position in Celldex Therapeutics by 1.2% during the 4th quarter. Swiss National Bank now owns 117,300 shares of the biopharmaceutical company's stock worth $2,964,000 after purchasing an additional 1,400 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Celldex Therapeutics by 5.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 42,628 shares of the biopharmaceutical company's stock valued at $1,449,000 after buying an additional 2,070 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.