Cantor Fitzgerald cut shares of Celldex Therapeutics (NASDAQ:CLDX) from an overweight rating to a neutral rating in a research report report published on Tuesday morning, MarketBeat reports. They currently have $3.00 target price on the biopharmaceutical company’s stock.
“Glemba is a Miss. The METRIC trial evaluating metastatic TNBC patients that overexpress gpNMB versus capecitibine did not achieve statistical significance, with glemba-treated patients experiencing PFS of 2.7 months versus 2.6 months for capecitibine, p=0.76. Additionally, significance was not achieved for key secondary endpoints of OR (overall response), DoR (Duration of Response) or OS (Overall Survival).”,” the firm’s analyst wrote.
CLDX has been the topic of a number of other reports. BidaskClub upgraded shares of Celldex Therapeutics from a sell rating to a hold rating in a report on Tuesday, March 6th. HC Wainwright restated a buy rating and issued a $10.00 target price on shares of Celldex Therapeutics in a report on Thursday, March 8th. Cowen downgraded shares of Celldex Therapeutics from an outperform rating to a market perform rating in a report on Monday, April 16th. Finally, Leerink Swann restated a market perform rating and issued a $3.00 target price (down from $4.00) on shares of Celldex Therapeutics in a report on Thursday, March 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Celldex Therapeutics has a consensus rating of Hold and a consensus price target of $4.21.
Celldex Therapeutics (NASDAQ:CLDX) last posted its earnings results on Wednesday, March 7th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.08. Celldex Therapeutics had a negative net margin of 730.06% and a negative return on equity of 44.64%. The firm had revenue of $3.50 million for the quarter, compared to the consensus estimate of $1.49 million. During the same period in the previous year, the firm posted ($0.30) EPS. The business’s quarterly revenue was up 87.2% on a year-over-year basis. research analysts anticipate that Celldex Therapeutics will post -0.75 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC purchased a new position in shares of Celldex Therapeutics during the 4th quarter worth about $187,000. Millennium Management LLC boosted its stake in shares of Celldex Therapeutics by 21.8% during the 4th quarter. Millennium Management LLC now owns 2,241,521 shares of the biopharmaceutical company’s stock worth $6,366,000 after purchasing an additional 400,965 shares during the period. TIAA CREF Investment Management LLC boosted its stake in shares of Celldex Therapeutics by 72.3% during the 4th quarter. TIAA CREF Investment Management LLC now owns 651,531 shares of the biopharmaceutical company’s stock worth $1,850,000 after purchasing an additional 273,433 shares during the period. Teachers Advisors LLC boosted its stake in shares of Celldex Therapeutics by 29.0% during the 4th quarter. Teachers Advisors LLC now owns 372,815 shares of the biopharmaceutical company’s stock worth $1,059,000 after purchasing an additional 83,910 shares during the period. Finally, Two Sigma Investments LP purchased a new position in shares of Celldex Therapeutics during the 4th quarter worth about $800,000. 55.49% of the stock is owned by hedge funds and other institutional investors.
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About Celldex Therapeutics
Celldex Therapeutics, Inc, a biopharmaceutical company, focuses on the development and commercialization of various immunotherapy technologies and other cancer-targeting biologics. Its drug candidates include glembatumumab vedotin, an antibody-drug that is in Phase IIb study for the treatment of triple negative breast cancer and a Phase II study for the treatment of metastatic melanoma; Varlilumab, an immune modulating antibody that is in a Phase 1 study designed to enhance a patient's immune response against cancer; and CDX-3379, a human monoclonal antibody that is in Phase II study in combination with cetuximab for the treatment of head and neck squamous cell carcinoma.
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