Celldex Therapeutics (CLDX, Financial), a biotech company at the forefront of developing treatments in immunology and inflammation, has caught the attention of Canaccord. The firm has begun coverage of Celldex with a "Buy" recommendation and has set a price target of $64, indicating confidence in the company's potential growth.
The company's main focus is on advancing barzolvolimab, a lead drug candidate that aims to tap into significant commercial opportunities. Canaccord categorizes this innovative treatment as fitting within the "pipeline-in-a-drug" framework, suggesting its capability to address multiple market needs with a single therapeutic solution. This strategic position could make Celldex a significant player in its field, according to the analysis.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 12 analysts, the average target price for Celldex Therapeutics Inc (CLDX, Financial) is $62.08 with a high estimate of $90.00 and a low estimate of $36.00. The average target implies an upside of 217.24% from the current price of $19.57. More detailed estimate data can be found on the Celldex Therapeutics Inc (CLDX) Forecast page.
Based on the consensus recommendation from 14 brokerage firms, Celldex Therapeutics Inc's (CLDX, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Celldex Therapeutics Inc (CLDX, Financial) in one year is $18.65, suggesting a downside of 4.7% from the current price of $19.57. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Celldex Therapeutics Inc (CLDX) Summary page.
