Morgan Stanley Initiates Coverage on Celldex Therapeutics (NASDAQ:CLDX)

Morgan Stanley began coverage on shares of Celldex Therapeutics (NASDAQ:CLDX) in a research note published on Thursday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $46.00 target price on the biopharmaceutical company’s stock.

Several other research firms have also recently commented on CLDX. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a research note on Friday, February 28th. The Goldman Sachs Group lowered their target price on Celldex Therapeutics from $42.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. UBS Group initiated coverage on Celldex Therapeutics in a research note on Thursday, February 13th. They set a “buy” rating and a $44.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research note on Wednesday, January 29th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.33.

Celldex Therapeutics Trading Down 1.2 %

CLDX stock opened at $19.64 on Thursday. The company has a market capitalization of $1.30 billion, a PE ratio of -7.64 and a beta of 1.76. Celldex Therapeutics has a 12-month low of $18.61 and a 12-month high of $47.00. The business’s fifty day moving average price is $22.22 and its 200 day moving average price is $27.14.

Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Thursday, February 27th. The biopharmaceutical company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.02. Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. The firm had revenue of $1.18 million during the quarter, compared to analysts’ expectations of $1.25 million. Research analysts predict that Celldex Therapeutics will post -2.48 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its position in shares of Celldex Therapeutics by 215.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 878 shares in the last quarter. KBC Group NV lifted its holdings in shares of Celldex Therapeutics by 31.2% in the 3rd quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock valued at $71,000 after purchasing an additional 495 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Celldex Therapeutics in the 4th quarter valued at about $81,000. AlphaQuest LLC lifted its holdings in shares of Celldex Therapeutics by 171.0% in the 4th quarter. AlphaQuest LLC now owns 4,287 shares of the biopharmaceutical company’s stock valued at $108,000 after purchasing an additional 2,705 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Celldex Therapeutics in the 4th quarter valued at about $121,000.

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.