Leerink Partnrs Issues Pessimistic Outlook for CLDX Earnings

Celldex Therapeutics, Inc. (NASDAQ:CLDX) – Equities research analysts at Leerink Partnrs decreased their FY2029 earnings estimates for Celldex Therapeutics in a research report issued on Friday, May 9th. Leerink Partnrs analyst T. Smith now anticipates that the biopharmaceutical company will post earnings of $6.20 per share for the year, down from their prior forecast of $6.62. The consensus estimate for Celldex Therapeutics’ current full-year earnings is ($2.48) per share.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.06). Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. The firm had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $1.08 million.

Other research analysts have also issued reports about the company. The Goldman Sachs Group dropped their price target on Celldex Therapeutics from $36.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday. Morgan Stanley dropped their target price on Celldex Therapeutics from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday. Canaccord Genuity Group began coverage on shares of Celldex Therapeutics in a report on Monday, April 28th. They set a “buy” rating and a $64.00 price target for the company. UBS Group lowered their price objective on shares of Celldex Therapeutics from $44.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Celldex Therapeutics in a research note on Tuesday, May 6th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.90.

Celldex Therapeutics Stock Down 6.1%

CLDX opened at $18.33 on Monday. The firm has a market capitalization of $1.22 billion, a P/E ratio of -7.13 and a beta of 1.39. The stock has a fifty day moving average of $18.99 and a 200-day moving average of $22.80. Celldex Therapeutics has a 12-month low of $14.40 and a 12-month high of $47.00.

Institutional Trading of Celldex Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Deep Track Capital LP acquired a new position in shares of Celldex Therapeutics during the 4th quarter worth $38,919,000. Point72 Asset Management L.P. boosted its holdings in Celldex Therapeutics by 50.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,515,972 shares of the biopharmaceutical company’s stock worth $63,579,000 after purchasing an additional 847,264 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Celldex Therapeutics by 23.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,557,136 shares of the biopharmaceutical company’s stock worth $89,890,000 after buying an additional 676,771 shares during the last quarter. Vestal Point Capital LP acquired a new position in Celldex Therapeutics during the fourth quarter worth $7,707,000. Finally, American Century Companies Inc. raised its holdings in Celldex Therapeutics by 46.5% during the fourth quarter. American Century Companies Inc. now owns 608,457 shares of the biopharmaceutical company’s stock valued at $15,376,000 after buying an additional 193,093 shares in the last quarter.

About Celldex Therapeutics

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.