Zacks Investment Research Downgrades Celldex Therapeutics (NASDAQ:CLDX) to Sell

Zacks Investment Research lowered shares of Celldex Therapeutics (NASDAQ:CLDXGet Rating) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “CELLDEX THERAPEUTICS is an integrated biopharmaceutical company that applies its comprehensive Precision Targeted Immunotherapy Platform to generate a pipeline of candidates to treat cancer and other difficult-to-treat diseases. Celldex’s immunotherapy platform includes a complementary portfolio of monoclonal antibodies, antibody-targeted vaccines and immunomodulators to create novel disease-specific drug candidates. “

Separately, Cantor Fitzgerald reissued an overweight rating on shares of Celldex Therapeutics in a research note on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, Celldex Therapeutics presently has a consensus rating of Buy and an average price target of $65.00.

Celldex Therapeutics stock opened at $29.99 on Tuesday. The company’s fifty day moving average price is $32.97 and its 200 day moving average price is $35.06. Celldex Therapeutics has a 1 year low of $25.01 and a 1 year high of $57.20.

Celldex Therapeutics (NASDAQ:CLDXGet Rating) last released its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.07). Celldex Therapeutics had a negative net margin of 1,860.46% and a negative return on equity of 21.45%. As a group, analysts forecast that Celldex Therapeutics will post -2.01 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its stake in Celldex Therapeutics by 16.0% during the 3rd quarter. BlackRock Inc. now owns 3,133,770 shares of the biopharmaceutical company’s stock worth $169,191,000 after purchasing an additional 433,120 shares during the last quarter. Vanguard Group Inc. boosted its stake in Celldex Therapeutics by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 2,433,595 shares of the biopharmaceutical company’s stock worth $82,889,000 after purchasing an additional 20,539 shares during the last quarter. State Street Corp boosted its stake in Celldex Therapeutics by 27.5% during the 4th quarter. State Street Corp now owns 2,368,040 shares of the biopharmaceutical company’s stock worth $91,501,000 after purchasing an additional 510,922 shares during the last quarter. Wellington Management Group LLP boosted its stake in Celldex Therapeutics by 11.1% during the 3rd quarter. Wellington Management Group LLP now owns 2,180,352 shares of the biopharmaceutical company’s stock worth $117,717,000 after purchasing an additional 217,353 shares during the last quarter. Finally, RA Capital Management L.P. acquired a new stake in Celldex Therapeutics during the 3rd quarter worth $86,384,000. 98.61% of the stock is currently owned by institutional investors.

Celldex Therapeutics Company Profile (Get Rating)

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory diseases and various forms of cancer. The company's clinical development programs CDX-0159, a Phase I monoclonal antibody that binds the receptor tyrosine kinase KIT and inhibits its activity; CDX-1140, a human agonist monoclonal antibody targeted to CD40, a key activator of immune response, which is found on dendritic cells, macrophages, and B cells, as well as is expressed on various cancer cells; and CDX-527, a bispecific antibody, which uses the company's proprietary active anti-PD-L1 and CD27 human antibodies to couple CD27 costimulation with blockade of the PD-L1/PD-1 pathway to help prime and activate anti-tumor T cell responses through CD27 costimulation.

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