Research Analysts Set Expectations for CLDX FY2024 Earnings

Celldex Therapeutics, Inc. (NASDAQ:CLDX) – Leerink Partnrs dropped their FY2024 EPS estimates for shares of Celldex Therapeutics in a report released on Wednesday, November 6th. Leerink Partnrs analyst T. Smith now expects that the biopharmaceutical company will post earnings of ($2.45) per share for the year, down from their prior forecast of ($2.38). The consensus estimate for Celldex Therapeutics’ current full-year earnings is ($2.50) per share. Leerink Partnrs also issued estimates for Celldex Therapeutics’ Q4 2024 earnings at ($0.71) EPS, FY2025 earnings at ($3.22) EPS, FY2026 earnings at ($4.17) EPS and FY2027 earnings at ($4.12) EPS.

Several other equities research analysts also recently weighed in on CLDX. Citigroup started coverage on shares of Celldex Therapeutics in a report on Monday, October 7th. They issued a “buy” rating and a $70.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $67.00 price objective on shares of Celldex Therapeutics in a report on Monday, September 16th. Wolfe Research lowered shares of Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a research note on Friday, September 27th. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Celldex Therapeutics in a research report on Thursday. Finally, Wells Fargo & Company upgraded Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.25.

Celldex Therapeutics Price Performance

CLDX opened at $26.22 on Monday. The stock has a market cap of $1.74 billion, a P/E ratio of -10.20 and a beta of 1.60. Celldex Therapeutics has a 12 month low of $24.43 and a 12 month high of $53.18. The stock’s 50 day moving average price is $33.60 and its 200 day moving average price is $35.80.

Celldex Therapeutics (NASDAQ:CLDX) last released its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.05. Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%. The company had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $1.13 million.

Institutional Investors Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of CLDX. Vanguard Group Inc. increased its stake in Celldex Therapeutics by 19.8% in the 1st quarter. Vanguard Group Inc. now owns 3,650,582 shares of the biopharmaceutical company’s stock worth $153,215,000 after purchasing an additional 604,251 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Celldex Therapeutics by 631.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock valued at $129,571,000 after acquiring an additional 2,664,915 shares in the last quarter. Bellevue Group AG boosted its stake in Celldex Therapeutics by 15.7% in the 1st quarter. Bellevue Group AG now owns 2,796,615 shares of the biopharmaceutical company’s stock worth $117,374,000 after purchasing an additional 380,319 shares during the period. Point72 Asset Management L.P. boosted its stake in Celldex Therapeutics by 51.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,937,991 shares of the biopharmaceutical company’s stock worth $71,725,000 after purchasing an additional 654,194 shares during the period. Finally, Marshall Wace LLP raised its stake in Celldex Therapeutics by 53.3% during the 2nd 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 during the period.

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.