Zacks Investment Research upgraded shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) from a hold rating to a buy rating in a research report released on Tuesday, July 11th. They currently have $2.75 price objective on the biopharmaceutical company’s stock.
According to Zacks, “Celldex’s efforts to build its immuno-oncology pipeline are impressive. Its lead pipeline candidate, glembatumumab vedotin, is in mid-stage development for different types of cancer. Apart from glembatumumab vedotin, Celldex has several promising candidates in its pipeline, including varlilumab. We are also encouraged by Celldex’s partnership agreements with big players like Bristol-Myers. Meanwhile, the recent Kolltan acquisition adds some interesting candidates to the company’s pipeline. However, with no approved product in its portfolio, Celldex has to depend entirely on product development and licensing agreements, contracts and grants for revenues. We are also concerned about the early- to mid-stage nature of its pipeline. Estimates have remained mostly stable lately ahead of the Q2 results. Celldex has a positive record of earnings surprises in the recent quarters. “
A number of other brokerages also recently commented on CLDX. HC Wainwright reissued a buy rating and issued a $6.00 price objective on shares of Celldex Therapeutics in a research report on Wednesday, March 15th. Jefferies Group LLC dropped their price objective on shares of Celldex Therapeutics from $5.00 to $4.00 and set a hold rating on the stock in a research report on Wednesday, March 15th. Aegis reissued a buy rating on shares of Celldex Therapeutics in a research report on Tuesday, March 21st. ValuEngine downgraded shares of Celldex Therapeutics from a sell rating to a strong sell rating in a research report on Saturday, June 3rd. Finally, Cowen and Company reissued a buy rating on shares of Celldex Therapeutics in a research report on Tuesday, June 6th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Celldex Therapeutics presently has an average rating of Hold and a consensus target price of $7.32.
Shares of Celldex Therapeutics (NASDAQ:CLDX) opened at 2.45 on Tuesday. Celldex Therapeutics has a 12 month low of $2.20 and a 12 month high of $5.02. The company’s market capitalization is $306.50 million. The stock has a 50 day moving average price of $2.47 and a 200-day moving average price of $3.01.
Celldex Therapeutics (NASDAQ:CLDX) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.05. Celldex Therapeutics had a negative net margin of 1,318.94% and a negative return on equity of 51.87%. The firm had revenue of $3.83 million for the quarter, compared to the consensus estimate of $1.21 million. During the same period in the prior year, the firm earned ($0.32) EPS. The firm’s revenue for the quarter was up 175.5% on a year-over-year basis. Analysts forecast that Celldex Therapeutics will post ($1.05) EPS for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. boosted its position in shares of Celldex Therapeutics by 26.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 28,885 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 6,000 shares during the last quarter. BB&T Securities LLC acquired a new stake in shares of Celldex Therapeutics during the second quarter worth $117,000. Overbrook Management Corp acquired a new stake in shares of Celldex Therapeutics during the second quarter worth $139,000. Pacad Investment Ltd. acquired a new stake in shares of Celldex Therapeutics during the second quarter worth $150,000. Finally, Tudor Investment Corp Et Al boosted its stake in shares of Celldex Therapeutics by 256.6% in the fourth quarter. Tudor Investment Corp Et Al now owns 47,806 shares of the biopharmaceutical company’s stock worth $169,000 after buying an additional 34,400 shares in the last quarter. Institutional investors and hedge funds own 65.83% of the company’s stock.
Celldex Therapeutics Company Profile
Celldex Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of several immunotherapy technologies for the treatment of cancer and other diseases. Its lead drug Rintega (also referred to as rindopepimut and CDX-110) is a therapeutic vaccine, which is meant for the treatment of glioblastoma patients.
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