Celldex Therapeutics (NASDAQ:CLDX) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Celldex Therapeutics (NASDAQ:CLDX) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.96) EPS for the quarter, beating the consensus estimate of ($1.02) by $0.06, FiscalAI reports. The firm had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.72 million.

Celldex Therapeutics Price Performance

Shares of NASDAQ CLDX traded up $1.60 during mid-day trading on Friday, hitting $29.87. The company had a trading volume of 926,313 shares, compared to its average volume of 1,242,830. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -6.95 and a beta of 1.04. Celldex Therapeutics has a 12 month low of $22.10 and a 12 month high of $45.14. The firm’s 50 day simple moving average is $32.93 and its two-hundred day simple moving average is $32.68.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CLDX shares. Stifel Nicolaus set a $68.00 target price on Celldex Therapeutics in a research report on Tuesday, September 22nd. Cantor Fitzgerald boosted their price objective on Celldex Therapeutics from $61.00 to $72.00 and gave the company an “overweight” rating in a report on Tuesday, September 22nd. Morgan Stanley increased their price objective on Celldex Therapeutics from $50.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 23rd. HC Wainwright reaffirmed a “buy” rating and set a $64.00 price objective on shares of Celldex Therapeutics in a research note on Friday, October 2nd. Finally, Guggenheim boosted their target price on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Celldex Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $63.08.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on discovering, developing and commercializing targeted therapeutics for diseases with significant unmet medical needs. The company uses antibody-based technologies to develop treatments intended to modulate the immune system and address inflammatory, autoimmune and other serious conditions.

Celldex’s lead investigational product is barzolvolimab, an antibody designed to selectively block the KIT receptor and reduce mast-cell activity.