BidaskClub Upgrades Celldex Therapeutics (NASDAQ:CLDX) to “Buy”

BidaskClub upgraded shares of Celldex Therapeutics (NASDAQ:CLDX) from a hold rating to a buy rating in a research report sent to investors on Saturday, BidAskClub reports.

A number of other equities research analysts have also commented on the company. HC Wainwright reissued a buy rating and issued a $16.00 price target (down from $19.00) on shares of Celldex Therapeutics in a research report on Friday, March 27th. Cantor Fitzgerald increased their price target on Celldex Therapeutics from $8.00 to $12.00 and gave the company an overweight rating in a research report on Friday, June 12th. ValuEngine lowered Celldex Therapeutics from a buy rating to a hold rating in a research report on Saturday, June 20th. Finally, Zacks Investment Research lowered Celldex Therapeutics from a hold rating to a sell rating in a research report on Thursday, June 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Celldex Therapeutics presently has a consensus rating of Hold and a consensus price target of $10.33.

Shares of CLDX opened at $13.00 on Friday. Celldex Therapeutics has a 12-month low of $1.50 and a 12-month high of $13.91. The business’s fifty day moving average is $5.38 and its 200 day moving average is $3.03. The company has a quick ratio of 5.12, a current ratio of 5.12 and a debt-to-equity ratio of 0.03. The stock has a market cap of $293.28 million, a P/E ratio of -4.39 and a beta of 3.08.

Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Wednesday, May 6th. The biopharmaceutical company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.02). Celldex Therapeutics had a negative return on equity of 47.60% and a negative net margin of 948.81%. The firm had revenue of $2.73 million during the quarter, compared to the consensus estimate of $1.28 million. On average, analysts expect that Celldex Therapeutics will post -3.09 EPS for the current year.

In other Celldex Therapeutics news, CFO Samuel Bates Martin bought 9,750 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average cost of $2.99 per share, with a total value of $29,152.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anthony S. Marucci bought 15,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average cost of $2.99 per share, with a total value of $44,850.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 41,170 shares of company stock valued at $126,778. Insiders own 2.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in CLDX. Acadian Asset Management LLC increased its position in shares of Celldex Therapeutics by 20.4% during the 1st quarter. Acadian Asset Management LLC now owns 298,649 shares of the biopharmaceutical company’s stock valued at $496,000 after purchasing an additional 50,583 shares during the last quarter. TSP Capital Management Group LLC increased its holdings in Celldex Therapeutics by 14.9% in the 1st quarter. TSP Capital Management Group LLC now owns 410,017 shares of the biopharmaceutical company’s stock worth $681,000 after acquiring an additional 53,127 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Celldex Therapeutics by 8.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,115,368 shares of the biopharmaceutical company’s stock worth $2,487,000 after acquiring an additional 89,083 shares during the last quarter. 20.99% of the stock is owned by hedge funds and other institutional investors.

About Celldex Therapeutics

Celldex Therapeutics, Inc engages in the research, development, and commercialization of immunotherapies and other targeted biologics. Its drug candidates have the ability to engage the human immune system and directly inhibit tumors to treat specific types of cancer and other diseases. Its pipeline includes Varlilumab, CDX-1140, and CDX-301, and CDX-3379.

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