Celldex Therapeutics (NASDAQ:CLDX) was downgraded by equities researchers at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a note issued to investors on Tuesday, MarketBeat reports. They currently have a $3.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 279.70% from the stock’s current price.
The analysts wrote, “Glemba is a Miss. The METRIC trial evaluating metastatic TNBC patients that overexpress gpNMB versus capecitibine did not achieve statistical significance, with glemba-treated patients experiencing PFS of 2.7 months versus 2.6 months for capecitibine, p=0.76. Additionally, significance was not achieved for key secondary endpoints of OR (overall response), DoR (Duration of Response) or OS (Overall Survival).””
Other analysts have also recently issued research reports about the company. HC Wainwright set a $10.00 price objective on Celldex Therapeutics and gave the stock a “buy” rating in a report on Friday, February 9th. Cowen cut Celldex Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday. BidaskClub raised Celldex Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, January 5th. Finally, Leerink Swann reissued a “market perform” rating and set a $3.00 price objective (down previously from $4.00) on shares of Celldex Therapeutics in a report on Thursday, March 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $4.21.
Shares of CLDX stock traded up $0.03 on Tuesday, hitting $0.79. 10,804,261 shares of the stock were exchanged, compared to its average volume of 1,900,368. The company has a market capitalization of $303.31, a price-to-earnings ratio of -0.99 and a beta of 2.44. Celldex Therapeutics has a one year low of $0.76 and a one year high of $3.41.
Celldex Therapeutics (NASDAQ:CLDX) last issued its quarterly earnings data on Wednesday, March 7th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.08. The business had revenue of $3.50 million for the quarter, compared to analysts’ expectations of $1.49 million. Celldex Therapeutics had a negative return on equity of 44.64% and a negative net margin of 730.06%. The firm’s quarterly revenue was up 87.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.30) EPS. analysts predict that Celldex Therapeutics will post -0.72 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC purchased a new position in shares of Celldex Therapeutics during the 3rd quarter valued at about $101,000. OxFORD Asset Management LLP purchased a new position in shares of Celldex Therapeutics during the 3rd quarter valued at about $122,000. Teacher Retirement System of Texas raised its holdings in shares of Celldex Therapeutics by 325.0% during the 4th quarter. Teacher Retirement System of Texas now owns 43,253 shares of the biopharmaceutical company’s stock valued at $123,000 after buying an additional 33,077 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of Celldex Therapeutics during the 4th quarter valued at about $187,000. Finally, Two Sigma Advisers LP purchased a new position in shares of Celldex Therapeutics during the 4th quarter valued at about $238,000. 55.49% of the stock is currently owned by hedge funds and other institutional investors.
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Celldex Therapeutics Company Profile
Celldex Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of various immunotherapy technologies and other cancer-targeting biologics. Its drug candidates include glembatumumab vedotin, an antibody-drug that is in Phase IIb study for the treatment of triple negative breast cancer and a Phase II study for the treatment of metastatic melanoma; Varlilumab, an immune modulating antibody that is in a Phase 1 study designed to enhance a patient's immune response against cancer; and CDX-3379, a human monoclonal antibody that is in Phase II study in combination with cetuximab for the treatment of head and neck squamous cell carcinoma.
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