The Goldman Sachs Group Initiates Coverage on Celldex Therapeutics (NASDAQ:CLDX)

The Goldman Sachs Group assumed coverage on shares of Celldex Therapeutics (NASDAQ:CLDX) in a research note published on Monday, MarketBeat.com reports. The firm issued a neutral rating and a $45.00 price target on the biopharmaceutical company’s stock.

Other equities research analysts also recently issued reports about the company. Wolfe Research downgraded Celldex Therapeutics from an outperform rating to a peer perform rating in a report on Friday, September 27th. HC Wainwright restated a buy rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research report on Thursday, September 26th. Stifel Nicolaus initiated coverage on Celldex Therapeutics in a research report on Tuesday, June 18th. They set a buy rating and a $58.00 price objective for the company. Cantor Fitzgerald restated an overweight rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research report on Monday, September 16th. Finally, Wells Fargo & Company upgraded Celldex Therapeutics from a hold rating to a strong-buy rating in a research report on Thursday, September 26th. Two equities research 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 stock. Based on data from MarketBeat.com, Celldex Therapeutics has an average rating of Moderate Buy and an average target price of $61.14.

Celldex Therapeutics Trading Up 2.1 %

Shares of NASDAQ CLDX opened at $30.84 on Monday. Celldex Therapeutics has a twelve month low of $22.11 and a twelve month high of $53.18. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -10.82 and a beta of 1.55. The business has a 50 day simple moving average of $37.73 and a 200-day simple moving average of $38.00.

Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.05. Celldex Therapeutics had a negative return on equity of 23.66% and a negative net margin of 1,809.18%. The business had revenue of $2.50 million during the quarter, compared to the consensus estimate of $1.13 million. As a group, equities analysts predict that Celldex Therapeutics will post -2.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CLDX. Vanguard Group Inc. boosted its stake in Celldex Therapeutics by 16.3% during the fourth quarter. Vanguard Group Inc. now owns 3,046,331 shares of the biopharmaceutical company’s stock valued at $120,817,000 after buying an additional 427,827 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Celldex Therapeutics by 105.3% during the fourth quarter. Point72 Asset Management L.P. now owns 2,756,122 shares of the biopharmaceutical company’s stock valued at $109,308,000 after buying an additional 1,413,722 shares in the last quarter. Affinity Asset Advisors LLC boosted its stake in Celldex Therapeutics by 166.7% during the fourth quarter. Affinity Asset Advisors LLC now owns 400,000 shares of the biopharmaceutical company’s stock valued at $15,864,000 after buying an additional 250,000 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Celldex Therapeutics by 631.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock valued at $129,571,000 after buying an additional 2,664,915 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Celldex Therapeutics by 17.8% during the first quarter. Swiss National Bank now owns 114,300 shares of the biopharmaceutical company’s stock valued at $4,797,000 after buying an additional 17,300 shares in the last quarter.

Celldex Therapeutics Company Profile

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.