FY2023 EPS Estimates for Celldex Therapeutics, Inc. Decreased by Leerink Partnrs (NASDAQ:CLDX)

Celldex Therapeutics, Inc. (NASDAQ:CLDX) – Stock analysts at Leerink Partnrs lowered their FY2023 earnings per share estimates for shares of Celldex Therapeutics in a research note issued to investors on Monday, November 6th. Leerink Partnrs analyst T. Smith now forecasts that the biopharmaceutical company will post earnings per share of ($2.89) for the year, down from their prior forecast of ($2.60). The consensus estimate for Celldex Therapeutics’ current full-year earnings is ($2.87) per share. Leerink Partnrs also issued estimates for Celldex Therapeutics’ Q4 2023 earnings at ($0.81) EPS, FY2024 earnings at ($2.91) EPS, FY2025 earnings at ($3.39) EPS, FY2026 earnings at ($3.99) EPS and FY2027 earnings at ($3.52) EPS.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.65) EPS for the quarter, hitting analysts’ consensus estimates of ($0.65). Celldex Therapeutics had a negative return on equity of 43.22% and a negative net margin of 2,854.75%. The firm had revenue of $0.27 million for the quarter, compared to analyst estimates of $0.67 million.

A number of other brokerages also recently weighed in on CLDX. HC Wainwright raised their target price on Celldex Therapeutics from $73.00 to $80.00 and gave the company a “buy” rating in a report on Monday. Wells Fargo & Company assumed coverage on Celldex Therapeutics in a report on Tuesday, August 22nd. They issued an “underweight” rating on the stock. Finally, Cantor Fitzgerald reduced their target price on Celldex Therapeutics from $54.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Celldex Therapeutics has an average rating of “Hold” and a consensus price target of $65.00.

Celldex Therapeutics Stock Performance

Shares of CLDX stock opened at $25.78 on Thursday. The stock’s fifty day moving average price is $26.47 and its two-hundred day moving average price is $31.09. The company has a market cap of $1.22 billion, a PE ratio of -10.74 and a beta of 2.06. Celldex Therapeutics has a fifty-two week low of $22.11 and a fifty-two week high of $48.40.

Institutional Investors Weigh In On Celldex Therapeutics

Hedge funds have recently modified their holdings of the company. HM Payson & Co. acquired a new stake in shares of Celldex Therapeutics during the 2nd quarter valued at $33,000. Allspring Global Investments Holdings LLC raised its position in Celldex Therapeutics by 77.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,136 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 496 shares during the last quarter. Point72 Hong Kong Ltd raised its position in Celldex Therapeutics by 57.9% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,394 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 511 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Celldex Therapeutics by 604.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,178 shares of the biopharmaceutical company’s stock worth $78,000 after purchasing an additional 1,869 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in Celldex Therapeutics by 78.8% during the 1st quarter. Cubist Systematic Strategies LLC now owns 2,782 shares of the biopharmaceutical company’s stock worth $100,000 after purchasing an additional 1,226 shares during the last quarter.

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 diseases and various forms of cancer. The company's clinical development programs CDX-0159, a Phase II 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.