Celldex Therapeutics Inc. (CLDX) Downgraded by Zacks Investment Research to “Hold”
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.”
Several other analysts have also weighed in on CLDX. Roth Capital reiterated a buy rating and issued a $7.00 price objective on shares of Celldex Therapeutics in a research note on Thursday, November 10th. Cantor Fitzgerald reiterated a buy rating and issued a $9.00 price objective on shares of Celldex Therapeutics in a research note on Tuesday, November 8th. Aegis assumed coverage on shares of Celldex Therapeutics in a research note on Monday, November 7th. They issued a buy rating for the company. Brean Capital assumed coverage on shares of Celldex Therapeutics in a research note on Tuesday, October 4th. They issued a buy rating and a $16.00 price objective for the company. Finally, Jefferies Group reiterated a hold rating and issued a $5.00 price objective (up previously from $4.00) on shares of Celldex Therapeutics in a research note on Thursday, August 11th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Celldex Therapeutics currently has an average rating of Buy and an average price target of $7.44.
Shares of Celldex Therapeutics (NASDAQ:CLDX) opened at 4.02 on Tuesday. Celldex Therapeutics has a 52-week low of $2.85 and a 52-week high of $18.31. The firm’s 50-day moving average is $3.77 and its 200 day moving average is $4.09. The company’s market capitalization is $407.02 million.
Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping the 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 earned $2.20 million during the quarter, compared to analyst estimates of $1.09 million. During the same quarter last year, the business earned ($0.32) EPS. The company’s revenue was up 115.5% compared to the same quarter last year. On average, equities research analysts anticipate that Celldex Therapeutics will post ($1.29) earnings per share for the current year.
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A number of large investors have recently made changes to their positions in the stock. National Planning Corp boosted its stake in shares of Celldex Therapeutics by 3.1% in the second quarter. National Planning Corp now owns 55,246 shares of the biopharmaceutical company’s stock worth $251,000 after buying an additional 1,650 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of Celldex Therapeutics by 24.9% in the second quarter. Alps Advisors Inc. now owns 138,680 shares of the biopharmaceutical company’s stock worth $609,000 after buying an additional 27,677 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in shares of Celldex Therapeutics during the second quarter worth about $473,000. Suffolk Capital Management LLC boosted its stake in shares of Celldex Therapeutics by 8.9% in the second quarter. Suffolk Capital Management LLC now owns 474,799 shares of the biopharmaceutical company’s stock worth $2,084,000 after buying an additional 38,679 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Celldex Therapeutics by 6.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 339,154 shares of the biopharmaceutical company’s stock worth $1,489,000 after buying an additional 19,418 shares in the last quarter. Institutional investors and hedge funds own 67.97% 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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