Celldex Therapeutics (NASDAQ:CLDX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Celldex Therapeutics (NASDAQ:CLDXGet Rating) from a hold rating to a sell rating in a report published on Tuesday, 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 analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $65.00.

Shares of CLDX stock opened at $28.74 on Tuesday. The firm’s 50 day moving average is $33.08. The stock has a market capitalization of $1.34 billion, a PE ratio of -16.81 and a beta of 2.69. Celldex Therapeutics has a twelve month low of $23.95 and a twelve month high of $57.20.

Celldex Therapeutics (NASDAQ:CLDXGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.07). Celldex Therapeutics had a negative net margin of 1,860.46% and a negative return on equity of 21.45%. Equities analysts predict that Celldex Therapeutics will post -1.84 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. purchased a new stake in shares of Celldex Therapeutics during the third quarter worth approximately $51,000. Denali Advisors LLC purchased a new stake in shares of Celldex Therapeutics during the fourth quarter worth approximately $43,000. Captrust Financial Advisors purchased a new stake in shares of Celldex Therapeutics during the third quarter worth approximately $88,000. O Shaughnessy Asset Management LLC increased its position in shares of Celldex Therapeutics by 3,904.6% during the third quarter. O Shaughnessy Asset Management LLC now owns 2,603 shares of the biopharmaceutical company’s stock worth $141,000 after purchasing an additional 2,538 shares in the last quarter. Finally, Prospera Financial Services Inc purchased a new stake in shares of Celldex Therapeutics during the first quarter worth approximately $89,000. Hedge funds and other institutional investors own 98.61% 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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