Celldex Therapeutics (NASDAQ:CLDX) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Celldex Therapeutics (NASDAQ:CLDX) released its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.96) EPS for the quarter, topping the consensus estimate of ($1.02) by $0.06, FiscalAI reports. The company had revenue of $0.40 million during the quarter, compared to analysts’ expectations of $0.72 million.

Celldex Therapeutics Price Performance

Celldex Therapeutics stock traded up $1.60 during midday trading on Friday, reaching $29.87. The company had a trading volume of 926,313 shares, compared to its average volume of 1,242,830. The company has a market capitalization of $2.35 billion, a P/E ratio of -6.95 and a beta of 1.04. Celldex Therapeutics has a 12-month low of $22.10 and a 12-month high of $45.14. The firm’s fifty day simple moving average is $32.93 and its 200-day simple moving average is $32.68.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CLDX shares. Leerink Partners increased their price target on shares of Celldex Therapeutics from $70.00 to $88.00 and gave the stock an “outperform” rating in a report on Wednesday, September 23rd. Guggenheim increased their price target on Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Cantor Fitzgerald boosted their price objective on Celldex Therapeutics from $61.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, September 22nd. Stifel Nicolaus set a $68.00 target price on Celldex Therapeutics in a research note on Tuesday, September 22nd. Finally, Wall Street Zen upgraded Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.08.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing targeted therapeutics for diseases with significant unmet medical needs. The company uses antibody-based technologies to develop treatments intended to modulate the immune system and address inflammatory, autoimmune and other serious conditions.

Celldex’s lead investigational product is barzolvolimab, an antibody designed to selectively block the KIT receptor and reduce mast-cell activity.