Zacks Investment Research upgraded shares of Celldex Therapeutics, Inc. (NASDAQ:CLDX) from a hold rating to a buy rating in a research note released on Tuesday, July 11th. They currently have $2.75 target price on the biopharmaceutical company’s stock.
According to Zacks, “Celldex’s efforts to build its immuno-oncology pipeline are impressive. Its lead pipeline candidate, glembatumumab vedotin, is in mid-stage development for different types of cancer. Apart from glembatumumab vedotin, Celldex has several promising candidates in its pipeline, including varlilumab. We are also encouraged by Celldex’s partnership agreements with big players like Bristol-Myers. Meanwhile, the recent Kolltan acquisition adds some interesting candidates to the company’s pipeline. 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. Estimates have remained mostly stable lately ahead of the Q2 results. Celldex has a positive record of earnings surprises in the recent quarters. “
Several other brokerages have also recently weighed in on CLDX. HC Wainwright reissued a buy rating and set a $6.00 price target on shares of Celldex Therapeutics in a research report on Wednesday, March 15th. Jefferies Group LLC dropped their target price on shares of Celldex Therapeutics from $5.00 to $4.00 and set a hold rating for the company in a research report on Wednesday, March 15th. Aegis reaffirmed a buy rating on shares of Celldex Therapeutics in a research report on Tuesday, March 21st. ValuEngine cut shares of Celldex Therapeutics from a sell rating to a strong sell rating in a research report on Saturday, June 3rd. Finally, Cowen and Company reaffirmed a buy rating on shares of Celldex Therapeutics in a research report on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Celldex Therapeutics has an average rating of Hold and a consensus target price of $6.75.
Shares of Celldex Therapeutics (NASDAQ CLDX) traded down 0.84% during trading on Tuesday, reaching $2.36. The company had a trading volume of 952,978 shares. Celldex Therapeutics has a 12 month low of $2.20 and a 12 month high of $5.02. The company’s market cap is $295.25 million. The firm has a 50 day moving average price of $2.48 and a 200 day moving average price of $3.14.
Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.28). The business had revenue of $1.53 million during the quarter, compared to analysts’ expectations of $0.57 million. Celldex Therapeutics had a negative net margin of 1,825.82% and a negative return on equity of 53.10%. Analysts predict that Celldex Therapeutics will post ($1.11) earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. Meditor Group Ltd raised its stake in Celldex Therapeutics by 39.9% in the second quarter. Meditor Group Ltd now owns 5,800,000 shares of the biopharmaceutical company’s stock worth $14,326,000 after buying an additional 1,654,100 shares in the last quarter. Creative Planning raised its stake in Celldex Therapeutics by 12.2% in the second quarter. Creative Planning now owns 80,136 shares of the biopharmaceutical company’s stock worth $198,000 after buying an additional 8,716 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Celldex Therapeutics by 0.9% in the first quarter. Goldman Sachs Group Inc. now owns 280,425 shares of the biopharmaceutical company’s stock worth $1,012,000 after buying an additional 2,453 shares in the last quarter. Credit Suisse AG raised its stake in shares of Celldex Therapeutics by 139.8% in the first quarter. Credit Suisse AG now owns 243,073 shares of the biopharmaceutical company’s stock worth $877,000 after buying an additional 141,689 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Celldex Therapeutics by 10.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 70,650 shares of the biopharmaceutical company’s stock worth $255,000 after buying an additional 6,695 shares in the last quarter. Institutional investors and hedge funds own 64.60% of the company’s stock.
Celldex Therapeutics Company Profile
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 (also referred to as rindopepimut and CDX-110) is a therapeutic vaccine, which is meant for the treatment of glioblastoma patients.
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