Celldex Therapeutics (NASDAQ:CLDX) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Celldex Therapeutics from “strong sell” to “sell,” even as the broader analyst view remains more constructive with a consensus rating of “Moderate Buy.”
• The company missed earnings expectations in its latest quarter, reporting an EPS loss of ($1.18) versus the expected ($1.15), while revenue came in at just $0.02 million compared with estimates of $0.80 million.
• Celldex shares recently traded near their 12-month high at $33.97, with analysts’ consensus price target at $48.00 and the stock carrying a market cap of about $2.67 billion.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report issued on Saturday.

Several other research firms have also recently commented on CLDX. Weiss Ratings reissued a "sell (d-)" rating on shares of Celldex Therapeutics in a research note on Monday, April 20th. Wolfe Research raised Celldex Therapeutics from a "peer perform" rating to an "outperform" rating and set a $44.00 target price for the company in a research note on Monday, March 23rd. Barclays boosted their target price on Celldex Therapeutics from $45.00 to $48.00 and gave the stock an "overweight" rating in a research note on Friday. Stifel Nicolaus reissued a "buy" rating and set a $68.00 target price (up from $58.00) on shares of Celldex Therapeutics in a research note on Thursday, February 26th. Finally, The Goldman Sachs Group boosted their target price on Celldex Therapeutics from $30.00 to $34.00 and gave the stock a "neutral" rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $48.00.

Celldex Therapeutics Price Performance

CLDX opened at $33.97 on Friday. Celldex Therapeutics has a 12 month low of $18.20 and a 12 month high of $35.79. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of -7.97 and a beta of 0.98. The business has a fifty day moving average price of $31.69 and a 200 day moving average price of $27.87.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.18) EPS for the quarter, missing the consensus estimate of ($1.15) by ($0.03). The company had revenue of $0.02 million during the quarter, compared to analysts' expectations of $0.80 million. On average, research analysts anticipate that Celldex Therapeutics will post -4.87 earnings per share for the current year.

Institutional Trading of Celldex Therapeutics

A number of institutional investors have recently bought and sold shares of CLDX. Aster Capital Management DIFC Ltd purchased a new stake in Celldex Therapeutics during the 3rd quarter worth about $26,000. Wilmington Savings Fund Society FSB purchased a new stake in Celldex Therapeutics during the 3rd quarter worth about $42,000. Russell Investments Group Ltd. lifted its holdings in Celldex Therapeutics by 27.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,315 shares of the biopharmaceutical company's stock worth $47,000 after buying an additional 501 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Celldex Therapeutics during the 3rd quarter worth about $63,000. Finally, Strs Ohio purchased a new stake in Celldex Therapeutics during the 3rd quarter worth about $75,000.

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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