The Goldman Sachs Group Cuts Celldex Therapeutics (NASDAQ:CLDX) Price Target to $36.00

Celldex Therapeutics (NASDAQ:CLDX - Free Report) had its price objective trimmed by The Goldman Sachs Group from $42.00 to $36.00 in a research note released on Monday,Benzinga reports. The firm currently has a neutral rating on the biopharmaceutical company's stock.

Several other research firms have also commented on CLDX. UBS Group started coverage on Celldex Therapeutics in a research report on Thursday, February 13th. They issued a "buy" rating and a $44.00 price target for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $67.00 target price on shares of Celldex Therapeutics in a research report on Wednesday, January 29th. Finally, HC Wainwright reiterated a "buy" rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating, five 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 a consensus target price of $55.38.

Celldex Therapeutics Stock Up 1.1 %

Celldex Therapeutics stock traded up $0.23 during midday trading on Monday, reaching $21.33. 757,450 shares of the stock traded hands, compared to its average volume of 907,457. The stock has a market cap of $1.42 billion, a P/E ratio of -8.30 and a beta of 1.76. The stock's fifty day moving average is $23.56 and its 200-day moving average is $28.64. Celldex Therapeutics has a 12 month low of $18.61 and a 12 month high of $49.65.

Remove Ads

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.73) by $0.02. Celldex Therapeutics had a negative net margin of 1,544.32% and a negative return on equity of 19.75%. The company had revenue of $1.18 million for the quarter, compared to the consensus estimate of $1.25 million. On average, equities analysts predict that Celldex Therapeutics will post -2.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Deep Track Capital LP purchased a new position in shares of Celldex Therapeutics in the 4th quarter valued at $38,919,000. Wellington Management Group LLP boosted its holdings in shares of Celldex Therapeutics by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 9,243,599 shares of the biopharmaceutical company's stock valued at $314,190,000 after acquiring an additional 1,167,659 shares during the last quarter. Point72 Asset Management L.P. boosted its holdings in Celldex Therapeutics by 50.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,515,972 shares of the biopharmaceutical company's stock valued at $63,579,000 after purchasing an additional 847,264 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Celldex Therapeutics by 23.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,557,136 shares of the biopharmaceutical company's stock worth $89,890,000 after purchasing an additional 676,771 shares during the period. Finally, Jennison Associates LLC grew its position in Celldex Therapeutics by 32.0% during the 3rd quarter. Jennison Associates LLC now owns 1,324,410 shares of the biopharmaceutical company's stock worth $45,017,000 after purchasing an additional 321,325 shares during the period.

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.