Leerink Partnrs Analysts Lower Earnings Estimates for CLDX

Celldex Therapeutics, Inc. (NASDAQ:CLDX - Free Report) - Leerink Partnrs lowered their FY2024 EPS estimates for Celldex Therapeutics in a research report issued on Wednesday, November 6th. Leerink Partnrs analyst T. Smith now anticipates that the biopharmaceutical company will earn ($2.45) per share for the year, down from their previous forecast of ($2.38). The consensus estimate for Celldex Therapeutics' current full-year earnings is ($2.50) per share. Leerink Partnrs also issued estimates for Celldex Therapeutics' Q4 2024 earnings at ($0.71) EPS, FY2025 earnings at ($3.22) EPS, FY2026 earnings at ($4.17) EPS and FY2027 earnings at ($4.12) EPS.

Celldex Therapeutics (NASDAQ:CLDX - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.05. Celldex Therapeutics had a negative net margin of 1,544.32% and a negative return on equity of 19.75%. The firm had revenue of $2.50 million for the quarter, compared to the consensus estimate of $1.13 million.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group assumed coverage on Celldex Therapeutics in a research report on Monday, September 30th. They issued a "neutral" rating and a $45.00 target price on the stock. Wells Fargo & Company upgraded Celldex Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 26th. Citigroup assumed coverage on Celldex Therapeutics in a research report on Monday, October 7th. They issued a "buy" rating and a $70.00 target price on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $67.00 target price on shares of Celldex Therapeutics in a research report on Monday, September 16th. Finally, HC Wainwright reiterated a "buy" rating and issued a $80.00 target price on shares of Celldex Therapeutics in a research report on Thursday. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $62.25.

Celldex Therapeutics Stock Down 1.6 %

Shares of CLDX traded down $0.43 during mid-day trading on Monday, hitting $25.79. 357,527 shares of the company traded hands, compared to its average volume of 869,801. Celldex Therapeutics has a 1-year low of $24.43 and a 1-year high of $53.18. The company has a market capitalization of $1.71 billion, a PE ratio of -10.16 and a beta of 1.60. The business has a 50 day moving average of $33.60 and a 200 day moving average of $35.79.

Institutional Investors Weigh In On Celldex Therapeutics

Hedge funds have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Celldex Therapeutics in the 2nd quarter worth approximately $76,000. KBC Group NV lifted its position in shares of Celldex Therapeutics by 31.2% during the 3rd quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company's stock valued at $71,000 after buying an additional 495 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Celldex Therapeutics during the 1st quarter valued at approximately $147,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Celldex Therapeutics by 26.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company's stock valued at $192,000 after buying an additional 955 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Celldex Therapeutics by 34.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,198 shares of the biopharmaceutical company's stock valued at $260,000 after buying an additional 1,582 shares in the last quarter.

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.