Wedbush Comments on Celldex Therapeutics Inc.’s FY2016 Earnings (CLDX)
Celldex Therapeutics Inc. (NASDAQ:CLDX) – Stock analysts at Wedbush upped their FY2016 earnings per share (EPS) estimates for shares of Celldex Therapeutics in a report released on Tuesday. Wedbush analyst D. Nierengarten now anticipates that the firm will post earnings of ($1.22) per share for the year, up from their previous estimate of ($1.34). Wedbush currently has a “Neutral” rating and a $3.00 target price on the stock. Wedbush also issued estimates for Celldex Therapeutics’ Q4 2016 earnings at ($0.26) EPS, Q1 2017 earnings at ($0.27) EPS, Q2 2017 earnings at ($0.27) EPS, Q3 2017 earnings at ($0.20) EPS, Q4 2017 earnings at ($0.20) EPS, FY2017 earnings at ($0.91) EPS, FY2018 earnings at ($0.82) EPS, FY2019 earnings at ($0.57) EPS and FY2020 earnings at ($0.40) EPS.
A number of other research firms have also weighed in on CLDX. Jefferies Group boosted their target price on shares of Celldex Therapeutics to $5.00 and gave the stock a “hold” rating in a research report on Friday, August 5th. Cantor Fitzgerald reissued a “buy” rating and set a $9.00 target price on shares of Celldex Therapeutics in a research report on Monday, October 10th. Zacks Investment Research raised shares of Celldex Therapeutics from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a research report on Thursday. Roth Capital reissued a “buy” rating and set a $7.00 target price on shares of Celldex Therapeutics in a research report on Thursday. Finally, Brean Capital began coverage on shares of Celldex Therapeutics in a research report on Tuesday, October 4th. They set a “buy” rating and a $16.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Celldex Therapeutics has an average rating of “Buy” and a consensus target price of $7.39.
Celldex Therapeutics (NASDAQ:CLDX) opened at 4.17 on Thursday. The firm has a 50-day moving average of $3.64 and a 200-day moving average of $4.04. The company’s market cap is $419.27 million. Celldex Therapeutics has a one year low of $2.85 and a one year high of $18.62.
Celldex Therapeutics (NASDAQ:CLDX) last issued its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.04. Celldex Therapeutics had a negative net margin of 1,923.41% and a negative return on equity of 51.46%. The firm had revenue of $2.20 million for the quarter, compared to analysts’ expectations of $1.09 million. During the same quarter last year, the company posted ($0.32) earnings per share. Celldex Therapeutics’s revenue was up 115.5% on a year-over-year basis.
A number of hedge funds have recently bought and sold shares of the stock. Veritable L.P. acquired a new stake in Celldex Therapeutics during the second quarter worth $132,000. Virginia Retirement Systems ET AL acquired a new stake in Celldex Therapeutics during the third quarter worth $150,000. Canada Pension Plan Investment Board boosted its stake in Celldex Therapeutics by 304.5% in the first quarter. Canada Pension Plan Investment Board now owns 44,900 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 33,800 shares during the last quarter. Bank of Montreal Can acquired a new stake in Celldex Therapeutics during the second quarter worth $188,000. Finally, BlackRock Advisors LLC boosted its stake in Celldex Therapeutics by 12.2% in the third quarter. BlackRock Advisors LLC now owns 52,107 shares of the biopharmaceutical company’s stock worth $211,000 after buying an additional 5,683 shares during the last quarter. 78.41% of the stock is currently owned by institutional investors and hedge funds.
About Celldex Therapeutics
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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