Analysts Set Celldex Therapeutics, Inc. (NASDAQ:CLDX) Price Target at $62.25

Celldex Therapeutics, Inc. (NASDAQ:CLDX) has earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $62.25.

A number of brokerages have weighed in on CLDX. Citigroup initiated coverage on shares of Celldex Therapeutics in a research report on Monday, October 7th. They set a “buy” rating and a $70.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a research report on Thursday. Wells Fargo & Company raised Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Celldex Therapeutics in a research report on Thursday, December 19th. Finally, Wolfe Research downgraded Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Friday, September 27th.

Insider Activity

In related news, CEO Anthony S. Marucci purchased 11,500 shares of Celldex Therapeutics stock in a transaction dated Monday, November 11th. The shares were acquired at an average price of $26.82 per share, with a total value of $308,430.00. Following the completion of the transaction, the chief executive officer now owns 40,284 shares of the company’s stock, valued at approximately $1,080,416.88. This trade represents a 39.95 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Celldex Therapeutics by 14.6% in 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 lifted its position in shares of Celldex Therapeutics by 40.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,111 shares of the biopharmaceutical company’s stock worth $522,000 after buying an additional 4,093 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Celldex Therapeutics in the 2nd quarter valued at about $4,380,000. Arizona State Retirement System grew its position in shares of Celldex Therapeutics by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 16,231 shares of the biopharmaceutical company’s stock valued at $601,000 after buying an additional 325 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its stake in Celldex Therapeutics by 9.5% during the second quarter. Los Angeles Capital Management LLC now owns 7,371 shares of the biopharmaceutical company’s stock worth $273,000 after acquiring an additional 638 shares during the period.

Celldex Therapeutics Price Performance

Shares of NASDAQ:CLDX opened at $26.81 on Friday. The business has a 50-day moving average of $26.12 and a two-hundred day moving average of $32.70. The firm has a market capitalization of $1.78 billion, a PE ratio of -10.43 and a beta of 1.57. Celldex Therapeutics has a 12 month low of $22.93 and a 12 month high of $53.18.

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.