Cantor Fitzgerald Issues Pessimistic Forecast for Celldex Therapeutics (NASDAQ:CLDX) Stock Price

Key Points

• Cantor Fitzgerald lowered its price target on Celldex Therapeutics from $67 to $61, while keeping an overweight rating on the stock.
• Despite the cut, the new target still implies about 71% upside from the current share price, and the broader analyst view remains Moderate Buy with an average target of $54.33.
• Celldex recently missed earnings estimates, reporting a loss of $1.18 per share and nearly no revenue for the quarter, even as the stock traded around $35.66 and remained near its 52-week high.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) had its price target dropped by equities research analysts at Cantor Fitzgerald from $67.00 to $61.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the biopharmaceutical company's stock. Cantor Fitzgerald's target price points to a potential upside of 71.06% from the stock's current price.

Other analysts have also issued research reports about the company. Wells Fargo & Company lifted their price objective on Celldex Therapeutics from $38.00 to $54.00 and gave the stock an "overweight" rating in a report on Wednesday, May 13th. HC Wainwright reiterated a "buy" rating and set a $42.00 price target on shares of Celldex Therapeutics in a research note on Monday, June 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Celldex Therapeutics in a report on Friday. Barclays increased their price objective on shares of Celldex Therapeutics from $45.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Finally, Guggenheim lifted their target price on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Celldex Therapeutics has an average rating of "Moderate Buy" and an average target price of $54.33.

Celldex Therapeutics Price Performance

NASDAQ CLDX opened at $35.66 on Wednesday. The company's fifty day moving average is $33.46 and its two-hundred day moving average is $30.53. Celldex Therapeutics has a 52-week low of $19.72 and a 52-week high of $40.30. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of -8.37 and a beta of 0.90.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) earnings per share for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.80 million. As a group, sell-side analysts expect that Celldex Therapeutics will post -4.36 earnings per share for the current fiscal year.

Institutional Trading of Celldex Therapeutics

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC increased its stake in shares of Celldex Therapeutics by 143.2% in the fourth quarter. SG Americas Securities LLC now owns 47,340 shares of the biopharmaceutical company's stock valued at $1,286,000 after buying an additional 27,872 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Celldex Therapeutics in the third quarter worth about $818,000. PSP Research LLC acquired a new position in shares of Celldex Therapeutics during the fourth quarter worth approximately $553,000. Candriam S.C.A. acquired a new position in shares of Celldex Therapeutics during the first quarter worth approximately $8,846,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Celldex Therapeutics in the 1st quarter valued at $1,433,000.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted immunotherapies for cancer and other serious diseases. The company's research platforms leverage novel antibody and vaccine technologies designed to engage the patient's immune system, with a particular emphasis on oncology and neurologic indications. Celldex's pipeline includes both monoclonal antibodies and biologic agents that seek to modulate immune responses or deliver targeted cytotoxic activity.

Among Celldex's lead product candidates is glembatumumab vedotin, an antibody–drug conjugate directed against the glycoprotein NMB (gpNMB) for the treatment of certain breast and skin cancers.

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