UBS Group Begins Coverage on Celldex Therapeutics (NASDAQ:CLDX)

Research analysts at UBS Group began coverage on shares of Celldex Therapeutics (NASDAQ:CLDX) in a research note issued on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $44.00 price target on the biopharmaceutical company’s stock. UBS Group’s price objective indicates a potential upside of 93.83% from the company’s current price.

A number of other research analysts have also weighed in on CLDX. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a research report on Thursday, December 19th. Cantor Fitzgerald restated an “overweight” rating and set a $67.00 price objective on shares of Celldex Therapeutics in a research report on Wednesday, January 29th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.22.

Celldex Therapeutics Stock Down 1.6 %

NASDAQ:CLDX opened at $22.70 on Thursday. The business’s 50-day simple moving average is $24.79 and its two-hundred day simple moving average is $29.98. The stock has a market cap of $1.51 billion, a PE ratio of -8.83 and a beta of 1.60. Celldex Therapeutics has a 52 week low of $20.91 and a 52 week high of $53.18.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC grew its position in Celldex Therapeutics by 32.0% in the third quarter. Jennison Associates LLC now owns 1,324,410 shares of the biopharmaceutical company’s stock worth $45,017,000 after acquiring an additional 321,325 shares in the last quarter. Novo Holdings A S boosted its position in shares of Celldex Therapeutics by 13.4% during the third quarter. Novo Holdings A S now owns 963,663 shares of the biopharmaceutical company’s stock valued at $32,755,000 after buying an additional 113,663 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Celldex Therapeutics by 293.2% during the third quarter. BNP Paribas Financial Markets now owns 28,181 shares of the biopharmaceutical company’s stock valued at $958,000 after buying an additional 21,013 shares during the period. Bellevue Group AG boosted its position in shares of Celldex Therapeutics by 3.4% during the third quarter. Bellevue Group AG now owns 3,071,615 shares of the biopharmaceutical company’s stock valued at $104,404,000 after buying an additional 100,000 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Celldex Therapeutics during the third quarter valued at approximately $871,000.

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.