Celldex Therapeutics, Inc. (NASDAQ:CLDX) Raised to Buy at Zacks Investment Research
Celldex Therapeutics, Inc. (NASDAQ:CLDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $2.75 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 8.27% from the company’s previous close.
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. “
A number of other analysts also recently issued reports on CLDX. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Celldex Therapeutics in a report on Wednesday, March 15th. Jefferies Group LLC reduced their price target on shares of Celldex Therapeutics from $5.00 to $4.00 and set a “hold” rating on the stock in a report on Wednesday, March 15th. Aegis reiterated a “buy” rating on shares of Celldex Therapeutics in a report on Tuesday, March 21st. ValuEngine downgraded shares of Celldex Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, June 3rd. Finally, Cowen and Company reiterated a “buy” rating on shares of Celldex Therapeutics in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Celldex Therapeutics currently has an average rating of “Buy” and a consensus price target of $6.75.
Shares of Celldex Therapeutics (NASDAQ:CLDX) traded up 3.05% on Tuesday, reaching $2.54. 1,033,417 shares of the company traded hands. The firm’s market capitalization is $317.14 million. Celldex Therapeutics has a 1-year low of $2.20 and a 1-year high of $5.02. The stock has a 50-day moving average price of $2.72 and a 200 day moving average price of $3.26.
Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.28). The company had revenue of $1.53 million for the quarter, compared to the consensus estimate 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 anticipate that Celldex Therapeutics will post ($1.11) EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Celldex Therapeutics during the fourth quarter worth approximately $325,000. FMR LLC boosted its position in shares of Celldex Therapeutics by 40.3% in the fourth quarter. FMR LLC now owns 19,327,111 shares of the biopharmaceutical company’s stock worth $68,418,000 after buying an additional 5,555,595 shares during the last quarter. Tudor Investment Corp Et Al boosted its position in shares of Celldex Therapeutics by 256.6% in the fourth quarter. Tudor Investment Corp Et Al now owns 47,806 shares of the biopharmaceutical company’s stock worth $169,000 after buying an additional 34,400 shares during the last quarter. Norges Bank acquired a new position in shares of Celldex Therapeutics during the fourth quarter worth approximately $1,248,000. Finally, Vident Investment Advisory LLC boosted its position in shares of Celldex Therapeutics by 28.1% in the fourth quarter. Vident Investment Advisory LLC now owns 196,715 shares of the biopharmaceutical company’s stock worth $696,000 after buying an additional 43,128 shares during the last quarter. 64.66% of the stock is owned by institutional investors and hedge funds.
About Celldex Therapeutics
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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