Leerink Partnrs Has Negative Outlook of CLDX FY2029 Earnings

Celldex Therapeutics, Inc. (NASDAQ:CLDX) – Investment analysts at Leerink Partnrs lowered their FY2029 earnings per share estimates for shares of Celldex Therapeutics in a research report issued on Friday, May 9th. Leerink Partnrs analyst T. Smith now expects that the biopharmaceutical company will post earnings per share of $6.20 for the year, down from their previous estimate of $6.62. The consensus estimate for Celldex Therapeutics’ current full-year earnings is ($2.48) per share.

CLDX has been the topic of several other research reports. UBS Group cut their price target on Celldex Therapeutics from $44.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, May 9th. The Goldman Sachs Group cut their target price on Celldex Therapeutics from $36.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research note on Wednesday, January 29th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a research note on Tuesday, May 6th. Finally, Canaccord Genuity Group started coverage on Celldex Therapeutics in a research note on Monday, April 28th. They set a “buy” rating and a $64.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Celldex Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $53.90.

Celldex Therapeutics Trading Down 2.8%

Shares of NASDAQ CLDX opened at $19.62 on Monday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -7.63 and a beta of 1.39. Celldex Therapeutics has a 12-month low of $14.40 and a 12-month high of $47.00. The stock’s 50 day simple moving average is $18.93 and its 200 day simple moving average is $22.73.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.06). The company had revenue of $0.70 million during the quarter, compared to the consensus estimate of $1.08 million. Celldex Therapeutics had a negative return on equity of 19.75% and a negative net margin of 1,544.32%.

Hedge Funds Weigh In On Celldex Therapeutics

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of Celldex Therapeutics by 215.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,285 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 878 shares during the period. GAMMA Investing LLC grew its holdings in shares of Celldex Therapeutics by 6,665.9% in the 1st quarter. GAMMA Investing LLC now owns 2,977 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 2,933 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Celldex Therapeutics in the 4th quarter worth $81,000. KBC Group NV boosted its position in shares of Celldex Therapeutics by 79.1% in the fourth quarter. KBC Group NV now owns 3,728 shares of the biopharmaceutical company’s stock worth $94,000 after buying an additional 1,647 shares during the period. Finally, AlphaQuest LLC boosted its position in shares of Celldex Therapeutics by 171.0% in the fourth quarter. AlphaQuest LLC now owns 4,287 shares of the biopharmaceutical company’s stock worth $108,000 after buying an additional 2,705 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.