Zacks Investment Research Upgrades Celldex Therapeutics (NASDAQ:CLDX) to “Hold”

Celldex Therapeutics (NASDAQ:CLDX – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.

According to Zacks, “CELLDEX THERAPEUTICS is an integrated biopharmaceutical company that applies its comprehensive Precision Targeted Immunotherapy Platform to generate a pipeline of candidates to treat cancer and other difficult-to-treat diseases. Celldex’s immunotherapy platform includes a complementary portfolio of monoclonal antibodies, antibody-targeted vaccines and immunomodulators to create novel disease-specific drug candidates. “

Separately, Cantor Fitzgerald restated an “overweight” rating on shares of Celldex Therapeutics in a research report on Tuesday, March 1st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Celldex Therapeutics has a consensus rating of “Buy” and an average price target of $65.00.

NASDAQ:CLDX traded up $0.40 during mid-day trading on Monday, reaching $34.24. 394,209 shares of the company’s stock were exchanged, compared to its average volume of 565,887. Celldex Therapeutics has a one year low of $23.95 and a one year high of $57.20. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -20.88 and a beta of 2.78. The business’s fifty day moving average is $32.97.

Celldex Therapeutics (NASDAQ:CLDX – Get Rating) last posted its quarterly earnings results on Monday, February 28th. The biopharmaceutical company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.01). Celldex Therapeutics had a negative net margin of 1,516.04% and a negative return on equity of 21.98%. The company had revenue of $0.33 million during the quarter, compared to analyst estimates of $1.39 million. During the same quarter in the previous year, the business posted ($0.26) earnings per share. Analysts forecast that Celldex Therapeutics will post -1.84 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Celldex Therapeutics by 16.0% in the third quarter. BlackRock Inc. now owns 3,133,770 shares of the biopharmaceutical company’s stock worth $169,191,000 after purchasing an additional 433,120 shares during the last quarter. State Street Corp lifted its stake in Celldex Therapeutics by 27.5% in the fourth quarter. State Street Corp now owns 2,368,040 shares of the biopharmaceutical company’s stock worth $91,501,000 after acquiring an additional 510,922 shares during the period. Wellington Management Group LLP lifted its stake in Celldex Therapeutics by 11.1% in the third quarter. Wellington Management Group LLP now owns 2,180,352 shares of the biopharmaceutical company’s stock worth $117,717,000 after acquiring an additional 217,353 shares during the period. RA Capital Management L.P. purchased a new stake in Celldex Therapeutics in the third quarter worth $86,384,000. Finally, Eventide Asset Management LLC lifted its stake in Celldex Therapeutics by 9.8% in the fourth quarter. Eventide Asset Management LLC now owns 1,238,900 shares of the biopharmaceutical company’s stock worth $47,871,000 after acquiring an additional 110,900 shares during the period. Hedge funds and other institutional investors own 92.87% of the company’s stock.

Celldex Therapeutics Company Profile (Get Rating)

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 diseases and various forms of cancer. The company's clinical development programs CDX-0159, a Phase I monoclonal antibody that binds the receptor tyrosine kinase KIT and inhibits its activity; CDX-1140, a human agonist monoclonal antibody targeted to CD40, a key activator of immune response, which is found on dendritic cells, macrophages, and B cells, as well as is expressed on various cancer cells; and CDX-527, a bispecific antibody, which uses the company's proprietary active anti-PD-L1 and CD27 human antibodies to couple CD27 costimulation with blockade of the PD-L1/PD-1 pathway to help prime and activate anti-tumor T cell responses through CD27 costimulation.

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