Celldex Therapeutics (NASDAQ:CLDX) Posts Earnings Results

Celldex Therapeutics (NASDAQ:CLDX) posted its earnings results on Thursday. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates 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 Stock Up 5.7%

Shares of NASDAQ CLDX traded up $1.60 during trading on Friday, reaching $29.87. The company had a trading volume of 926,313 shares, compared to its average volume of 1,242,830. Celldex Therapeutics has a 12-month low of $22.10 and a 12-month high of $45.14. The stock has a market cap of $2.35 billion, a PE ratio of -6.95 and a beta of 1.04. The business’s 50-day moving average is $32.93 and its 200 day moving average is $32.68.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CLDX. Cantor Fitzgerald lifted their price target on Celldex Therapeutics from $61.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, September 22nd. Morgan Stanley raised their price objective on Celldex Therapeutics from $50.00 to $57.00 and gave the company an “overweight” rating in a research report on Wednesday, September 23rd. HC Wainwright restated a “buy” rating and set a $64.00 target price on shares of Celldex Therapeutics in a report on Friday, October 2nd. Barclays boosted their target price on shares of Celldex Therapeutics from $48.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Celldex Therapeutics in a research report on Thursday, October 15th. Eleven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Celldex Therapeutics has a consensus rating of “Moderate Buy” and an average price target 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.