Celldex Therapeutics, Inc. (NASDAQ:CLDX) traded up 11.3% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $2.82 and last traded at $2.75. 4,792,071 shares were traded during mid-day trading, an increase of 268% from the average session volume of 1,300,475 shares. The stock had previously closed at $2.47.
The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.08. Celldex Therapeutics had a negative return on equity of 44.81% and a negative net margin of 730.06%. The company had revenue of $3.50 million during the quarter, compared to the consensus estimate of $1.49 million. During the same period last year, the company earned ($0.30) earnings per share. The firm’s revenue was up 87.2% compared to the same quarter last year.
A number of equities analysts have recently issued reports on the company. Leerink Swann restated a “market perform” rating and set a $3.00 price objective (down from $4.00) on shares of Celldex Therapeutics in a research report on Thursday. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Celldex Therapeutics in a research report on Thursday. Cantor Fitzgerald restated a “buy” rating and set a $9.00 price objective on shares of Celldex Therapeutics in a research report on Wednesday. BidaskClub upgraded Celldex Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, WBB Securities restated a “buy” rating and set a $10.00 price objective on shares of Celldex Therapeutics in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $6.38.
The company has a market capitalization of $383.48, a price-to-earnings ratio of -2.79 and a beta of 2.63.
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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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