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

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

Celldex Therapeutics Price Performance

NASDAQ:CLDX traded up $1.60 during trading hours 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 company has a market capitalization of $2.35 billion, a PE ratio of -6.95 and a beta of 1.04. The stock has a 50-day moving average price of $32.93 and a 200 day moving average price of $32.68. Celldex Therapeutics has a 52 week low of $22.10 and a 52 week high of $45.14.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CLDX shares. Guggenheim raised their price target on shares of Celldex Therapeutics from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research note on Thursday, October 15th. Cantor Fitzgerald upped their price objective on shares of Celldex Therapeutics from $61.00 to $72.00 and gave the company an “overweight” rating in a research note on Tuesday, September 22nd. HC Wainwright reiterated a “buy” rating and set a $64.00 target price on shares of Celldex Therapeutics in a report on Friday, October 2nd. Finally, Barclays raised their target price on Celldex Therapeutics from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock 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.