Celldex Therapeutics Inc. (NASDAQ:CLDX) Receives Average Rating of “Hold” from Analysts
Shares of Celldex Therapeutics Inc. (NASDAQ:CLDX) have been given an average rating of “Hold” by the eleven analysts that are covering the firm. Six research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $9.75.
CLDX has been the subject of several recent research reports. Brean Capital initiated coverage on Celldex Therapeutics in a report on Tuesday. They set a “buy” rating and a $16.00 price target for the company. Jefferies Group upped their price target on Celldex Therapeutics to $5.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Finally, Wedbush reiterated a “neutral” rating and set a $3.00 price target on shares of Celldex Therapeutics in a report on Tuesday, August 9th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its position in shares of Celldex Therapeutics by 158.9% in the first quarter. State Street Corp now owns 8,561,225 shares of the biopharmaceutical company’s stock worth $32,362,000 after buying an additional 5,254,100 shares during the period. Columbia Wanger Asset Management LLC boosted its position in shares of Celldex Therapeutics by 76.8% in the second quarter. Columbia Wanger Asset Management LLC now owns 5,261,934 shares of the biopharmaceutical company’s stock worth $23,100,000 after buying an additional 2,285,534 shares in the last quarter. A.R.T. Advisors LLC purchased a new position in shares of Celldex Therapeutics during the first quarter worth approximately $3,446,000. Renaissance Technologies LLC purchased a new position in shares of Celldex Therapeutics during the first quarter worth approximately $3,074,000. Finally, Norges Bank purchased a new position in shares of Celldex Therapeutics during the fourth quarter worth approximately $9,378,000. Hedge funds and other institutional investors own 78.41% of the company’s stock.
Celldex Therapeutics (NASDAQ:CLDX) traded down 3.986% during midday trading on Thursday, hitting $4.215. The stock had a trading volume of 1,718,601 shares. Celldex Therapeutics has a 52 week low of $2.96 and a 52 week high of $18.62. The company has a 50-day moving average price of $3.75 and a 200-day moving average price of $4.16. The stock’s market cap is $423.80 million.
Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.02. Celldex Therapeutics had a negative return on equity of 47.59% and a negative net margin of 2,383.60%. The business earned $1.39 million during the quarter, compared to the consensus estimate of $0.96 million. During the same quarter in the prior year, the company posted ($0.33) earnings per share. Celldex Therapeutics’s revenue was down 36.4% compared to the same quarter last year. Equities analysts expect that Celldex Therapeutics will post ($1.34) EPS for the current year.
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 (rindopepimut and CDX-110) is a therapeutic vaccine in clinical studies for the treatment of glioblastoma patients that express a specific cancer marker known as type III epidermal growth factor receptor mutation (EGFRvIII).
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