Celldex Therapeutics Inc. (CLDX) Upgraded by Zacks Investment Research to Buy
Celldex Therapeutics Inc. (NASDAQ:CLDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a $5.00 price objective on the biopharmaceutical company’s stock. Zacks Investment Research’s price target indicates a potential upside of 14.16% from the company’s current price.
According to Zacks, “Celldex’s third-quarter results were encouraging with the company reporting narrower-than-expected loss and revenues surpassing expectations. The company’s efforts to build its immuno-oncology pipeline are also impressive. The upcoming Kolltan acquisition bodes well for the company. Meanwhile, Celldex’s lead pipeline candidate, glembatumumab vedotin, is in mid-stage development for different types of cancer. We are encouraged by Celldex’s partnership agreements with big players like Bristol-Myers and Roche. 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. With a number of ongoing studies, any development or regulatory setback would weigh heavily on the stock. Stiff competition in the immuno-oncology space remains a threat as well.”
Other equities analysts have also recently issued reports about the company. Jefferies Group raised their target price on Celldex Therapeutics to $5.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Wedbush reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Celldex Therapeutics in a report on Tuesday, August 9th. Brean Capital initiated coverage on Celldex Therapeutics in a report on Tuesday, October 4th. They issued a “buy” rating and a $16.00 target price on the stock. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $9.00 target price on shares of Celldex Therapeutics in a report on Monday, October 10th. Finally, Roth Capital set a $7.00 target price on Celldex Therapeutics and gave the stock a “buy” rating in a report on Wednesday, November 2nd. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Celldex Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $7.44.
Shares of Celldex Therapeutics (NASDAQ:CLDX) traded up 3.65% during mid-day trading on Thursday, reaching $4.54. The company had a trading volume of 1,209,618 shares. Celldex Therapeutics has a one year low of $2.85 and a one year high of $18.62. The company has a 50 day moving average price of $3.72 and a 200 day moving average price of $4.06. The company’s market capitalization is $459.67 billion.
Celldex Therapeutics (NASDAQ:CLDX) last posted its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. Celldex Therapeutics had a negative return on equity of 51.46% and a negative net margin of 1,923.41%. The firm had revenue of $2.20 million for the quarter, compared to the consensus estimate of $1.09 million. During the same quarter in the prior year, the business earned ($0.32) EPS. The business’s revenue for the quarter was up 115.5% on a year-over-year basis. On average, analysts anticipate that Celldex Therapeutics will post ($1.28) EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp raised 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 last quarter. Columbia Wanger Asset Management LLC raised 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 during the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Celldex Therapeutics by 1,578.9% in the third quarter. D. E. Shaw & Co. Inc. now owns 1,115,431 shares of the biopharmaceutical company’s stock worth $4,507,000 after buying an additional 1,048,992 shares during the last quarter. A.R.T. Advisors LLC purchased a new position in shares of Celldex Therapeutics during the first quarter worth $3,446,000. Finally, Vanguard Group Inc. raised its position in shares of Celldex Therapeutics by 7.3% in the second quarter. Vanguard Group Inc. now owns 7,263,339 shares of the biopharmaceutical company’s stock worth $31,886,000 after buying an additional 492,102 shares during the last quarter. Hedge funds and other institutional investors own 77.63% of the company’s stock.
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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