Celldex Therapeutics (CLDX) Lowered to “Sell” at BidaskClub

BidaskClub cut shares of Celldex Therapeutics (NASDAQ:CLDX) from a hold rating to a sell rating in a report published on Wednesday morning.

Several other research firms also recently commented on CLDX. WBB Securities reiterated a buy rating and issued a $10.00 price objective on shares of Celldex Therapeutics in a report on Wednesday, December 6th. Leerink Swann reiterated a market perform rating and issued a $3.00 price objective (down from $4.00) on shares of Celldex Therapeutics in a report on Thursday, March 8th. HC Wainwright reiterated a buy rating and issued a $10.00 price objective on shares of Celldex Therapeutics in a report on Thursday, March 8th. Finally, Cantor Fitzgerald reiterated a buy rating and issued a $9.00 price objective on shares of Celldex Therapeutics in a report on Wednesday, March 7th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Celldex Therapeutics has an average rating of Hold and a consensus target price of $6.38.

NASDAQ CLDX opened at $1.99 on Wednesday. Celldex Therapeutics has a 1 year low of $1.98 and a 1 year high of $3.41. The firm has a market cap of $280.74, a price-to-earnings ratio of -2.49 and a beta of 2.45.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings results on Wednesday, March 7th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.08. Celldex Therapeutics had a negative net margin of 730.06% and a negative return on equity of 44.64%. The firm had revenue of $3.50 million for the quarter, compared to analyst estimates of $1.49 million. During the same period in the prior year, the firm posted ($0.30) earnings per share. The company’s quarterly revenue was up 87.2% compared to the same quarter last year. equities analysts anticipate that Celldex Therapeutics will post -0.72 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in CLDX. Millennium Management LLC increased its holdings in shares of Celldex Therapeutics by 21.8% in the fourth quarter. Millennium Management LLC now owns 2,241,521 shares of the biopharmaceutical company’s stock valued at $6,366,000 after purchasing an additional 400,965 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Celldex Therapeutics by 741.9% in the third quarter. Russell Investments Group Ltd. now owns 352,511 shares of the biopharmaceutical company’s stock valued at $1,008,000 after purchasing an additional 310,638 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Celldex Therapeutics in the fourth quarter valued at $800,000. BlackRock Inc. increased its holdings in shares of Celldex Therapeutics by 2.9% in the fourth quarter. BlackRock Inc. now owns 9,930,701 shares of the biopharmaceutical company’s stock valued at $28,203,000 after purchasing an additional 279,287 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in shares of Celldex Therapeutics by 72.3% in the fourth quarter. TIAA CREF Investment Management LLC now owns 651,531 shares of the biopharmaceutical company’s stock valued at $1,850,000 after acquiring an additional 273,433 shares in the last quarter. Hedge funds and other institutional investors own 55.49% of the company’s stock.

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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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