Celldex Therapeutics Inc. (NASDAQ:CLDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage presently has a $5.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s price target points to a potential upside of 19.76% from the company’s current price.
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 research firms have also recently commented on CLDX. Roth Capital reissued a “buy” rating and issued a $7.00 target price on shares of Celldex Therapeutics in a research note on Thursday, November 10th. Cantor Fitzgerald reissued a “buy” rating and issued a $9.00 target price on shares of Celldex Therapeutics in a research note on Tuesday, November 8th. Wedbush reissued a “neutral” rating and issued a $3.00 target price on shares of Celldex Therapeutics in a research note on Tuesday, November 8th. Brean Capital initiated coverage on Celldex Therapeutics in a research note on Tuesday, October 4th. They issued a “buy” rating and a $16.00 target price for the company. Finally, Jefferies Group reaffirmed a “hold” rating and set a $5.00 price objective (up from $4.00) on shares of Celldex Therapeutics in a research note on Thursday, August 11th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Celldex Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $7.44.
Shares of Celldex Therapeutics (NASDAQ:CLDX) traded down 5.87% during midday trading on Monday, reaching $4.17. The company had a trading volume of 1,149,882 shares. Celldex Therapeutics has a 52-week low of $2.85 and a 52-week high of $18.56. The company’s 50-day moving average is $3.78 and its 200-day moving average is $4.09. The firm’s market cap is $422.20 million.
Celldex Therapeutics (NASDAQ:CLDX) last released its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.29) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.04. The company earned $2.20 million during the quarter, compared to analysts’ expectations of $1.09 million. Celldex Therapeutics had a negative return on equity of 51.46% and a negative net margin of 1,923.41%. The business’s revenue for the quarter was up 115.5% on a year-over-year basis. During the same period last year, the firm earned ($0.32) EPS. Equities research analysts expect that Celldex Therapeutics will post ($1.29) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Marcus Capital LLC raised its stake in shares of Celldex Therapeutics by 0.5% in the third quarter. Marcus Capital LLC now owns 112,200 shares of the biopharmaceutical company’s stock worth $453,000 after buying an additional 600 shares during the period. Teachers Advisors LLC raised its stake in shares of Celldex Therapeutics by 0.7% in the third quarter. Teachers Advisors LLC now owns 166,149 shares of the biopharmaceutical company’s stock worth $671,000 after buying an additional 1,207 shares during the period. Zacks Investment Management raised its stake in shares of Celldex Therapeutics by 2.3% in the second quarter. Zacks Investment Management now owns 68,681 shares of the biopharmaceutical company’s stock worth $302,000 after buying an additional 1,517 shares during the period. National Planning Corp raised 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 during the period. Finally, BlackRock Group LTD raised its stake in shares of Celldex Therapeutics by 2.6% in the third quarter. BlackRock Group LTD now owns 70,520 shares of the biopharmaceutical company’s stock worth $286,000 after buying an additional 1,767 shares during the period. 67.97% of the stock is owned by hedge funds and other institutional investors.
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 (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).