SVB Securities Thinks Celldex’s Stock is Going to Recover

Brian Anderson - TipRanks - Sun Jul 3, 2022

In a report issued on July 1, Thomas Smith from SVB Securities maintained a Buy rating on Celldex (CLDX – Research Report), with a price target of $68.00. The companys shares closed last Friday at $22.70, close to its 52-week low of $19.85.

According to TipRanks.com, Smith has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -30.5% and a 16.8% success rate. Smith covers the Healthcare sector, focusing on stocks such as Connect Biopharma Holdings, Madrigal Pharmaceuticals, and Eledon Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Celldex with a $70.50 average price target, which is a 199.2% upside from current levels. In a report issued on June 21, H.C. Wainwright also maintained a Buy rating on the stock with a $60.00 price target.

See Insiders’ Hot Stocks on TipRanks >> Based on Celldexs latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $174K and GAAP net loss of $23.05 million. In comparison, last year the company earned revenue of $685K and had a GAAP net loss of $16.54 million. TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities. 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. The company was founded by Anthony S. Marucci and Tibor Keler in 1983 and is headquartered in Hampton, NJ. Read More on CLDX: