$1.17 Million in Sales Expected for Celldex Therapeutics, Inc. (CLDX) This Quarter
Brokerages forecast that Celldex Therapeutics, Inc. (NASDAQ:CLDX) will announce $1.17 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Celldex Therapeutics’ earnings, with estimates ranging from $790,000.00 to $1.55 million. Celldex Therapeutics posted sales of $2.22 million in the same quarter last year, which would indicate a negative year over year growth rate of 47.3%. The business is scheduled to announce its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Celldex Therapeutics will report full-year sales of $1.17 million for the current fiscal year, with estimates ranging from $1.60 million to $8.60 million. For the next financial year, analysts forecast that the firm will post sales of $13.04 million per share, with estimates ranging from $100,000.00 to $33.32 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Celldex Therapeutics.
Celldex Therapeutics (NASDAQ:CLDX) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.05. The company had revenue of $3.83 million during the quarter, compared to analyst estimates of $1.21 million. Celldex Therapeutics had a negative net margin of 1,318.94% and a negative return on equity of 51.87%. Celldex Therapeutics’s revenue for the quarter was up 175.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.32) earnings per share.
A number of brokerages have commented on CLDX. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Celldex Therapeutics in a research note on Tuesday, August 1st. Jefferies Group LLC restated a “hold” rating and issued a $3.50 target price (down from $4.00) on shares of Celldex Therapeutics in a research note on Thursday, May 11th. Zacks Investment Research downgraded shares of Celldex Therapeutics from a “buy” rating to a “sell” rating in a research note on Monday, July 17th. Aegis restated a “buy” rating on shares of Celldex Therapeutics in a research note on Thursday, June 29th. Finally, Cowen and Company restated a “buy” rating on shares of Celldex Therapeutics in a research note on Tuesday, June 6th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $7.32.
Celldex Therapeutics (NASDAQ:CLDX) traded down 1.907% during mid-day trading on Friday, hitting $2.315. 279,991 shares of the stock were exchanged. The company’s 50-day moving average price is $2.45 and its 200 day moving average price is $2.98. The firm’s market capitalization is $297.11 million. Celldex Therapeutics has a 52 week low of $2.20 and a 52 week high of $5.02.
Large investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Celldex Therapeutics by 26.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 28,885 shares of the biopharmaceutical company’s stock valued at $104,000 after buying an additional 6,000 shares during the last quarter. BB&T Securities LLC acquired a new stake in shares of Celldex Therapeutics during the second quarter valued at $117,000. Voya Investment Management LLC boosted its stake in shares of Celldex Therapeutics by 17.4% in the second quarter. Voya Investment Management LLC now owns 50,535 shares of the biopharmaceutical company’s stock valued at $125,000 after buying an additional 7,499 shares during the last quarter. Overbrook Management Corp acquired a new stake in shares of Celldex Therapeutics during the second quarter valued at $139,000. Finally, Pacad Investment Ltd. acquired a new stake in shares of Celldex Therapeutics during the second quarter valued at $150,000. 63.88% of the stock is owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Celldex Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Celldex Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.