Celldex Therapeutics (NASDAQ:CLDX) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Celldex Therapeutics (NASDAQ:CLDX) issued its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.05, reports. Celldex Therapeutics had a negative net margin of 1,544.32% and a negative return on equity of 20.41%. The company had revenue of $3.19 million during the quarter, compared to the consensus estimate of $1.44 million.

Celldex Therapeutics Stock Performance

Shares of NASDAQ CLDX traded up $0.24 during trading hours on Friday, hitting $26.71. The stock had a trading volume of 148,452 shares, compared to its average volume of 867,020. The company has a market capitalization of $1.77 billion, a P/E ratio of -10.37 and a beta of 1.60. The firm’s 50-day moving average price is $33.90 and its two-hundred day moving average price is $35.90. Celldex Therapeutics has a 52 week low of $24.43 and a 52 week high of $53.18.

Institutional Investors Weigh In On Celldex Therapeutics

Several large investors have recently made changes to their positions in CLDX. Price T Rowe Associates Inc. MD boosted its position in Celldex Therapeutics by 631.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock worth $129,571,000 after purchasing an additional 2,664,915 shares during the period. Novo Holdings A S bought a new stake in shares of Celldex Therapeutics in the second quarter valued at approximately $31,458,000. Point72 Asset Management L.P. raised its stake in shares of Celldex Therapeutics by 51.0% in the second quarter. Point72 Asset Management L.P. now owns 1,937,991 shares of the biopharmaceutical company’s stock valued at $71,725,000 after purchasing an additional 654,194 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Celldex Therapeutics by 19.8% in the first quarter. Vanguard Group Inc. now owns 3,650,582 shares of the biopharmaceutical company’s stock valued at $153,215,000 after purchasing an additional 604,251 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Celldex Therapeutics by 53.3% in the second quarter. Marshall Wace LLP now owns 1,377,868 shares of the biopharmaceutical company’s stock valued at $50,995,000 after purchasing an additional 479,068 shares in the last quarter.

Analyst Ratings Changes

Several research firms have issued reports on CLDX. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Celldex Therapeutics in a report on Thursday. Wells Fargo & Company upgraded Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 26th. Wolfe Research downgraded Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Friday, September 27th. Citigroup began coverage on Celldex Therapeutics in a report on Monday, October 7th. They issued a “buy” rating and a $70.00 target price on the stock. Finally, The Goldman Sachs Group began coverage on Celldex Therapeutics in a report on Monday, September 30th. They issued a “neutral” rating and a $45.00 target price on the stock. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.25.

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.