Published: Mon, April 16, 2018
Business | By Tara Barton

Does Celldex Therapeutics, Inc. (CLDX) Have Any Gas After Touching Yearly Low?

Does Celldex Therapeutics, Inc. (CLDX) Have Any Gas After Touching Yearly Low?

CLDX has been the topic of several recent research reports. HC Wainwright set a $10.00 target price on shares of Celldex Therapeutics and gave the stock a "buy" rating in a research report on Friday, February 9th. Case in point: Celldex Therapeutics (NASDAQ:CLDX) shares lost nearly half of their value this morning, after the drug maker reported that the Company's randomized, Phase 2b METRIC Study of glembatumumab vedotin compared to Xeloda (capecitabine) in patients with metastatic triple-negative breast cancers that overexpress gpNMB failed to meet its primary endpoint. On Thursday, March 8 the stock of Celldex Therapeutics, Inc. Zurcher Kantonalbank Zurich Cantonalbank now owns 375,573 shares of the biopharmaceutical company's stock valued at $1,517,000 after buying an additional 2,507 shares during the period. Celldex Therapeutics has a consensus rating of "Hold" and an average price target of $6.38.

"Triple-negative breast cancer is a very hard disease to treat, and we are extremely disappointed for patients that the METRIC Study was not successful", said Anthony Marucci, Co-founder, President and Chief Executive Officer of Celldex Therapeutics. Celldex Therapeutics has a 1-year low of $1.97 and a 1-year high of $3.41. The stock has a market capitalization of $316.01, a PE ratio of -2.69 and a beta of 2.45.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.08. The business had revenue of $3.50 million during the quarter, compared to analysts' expectations of $1.49 million. During the same period in the previous year, the company earned ($0.30) earnings per share. The company's revenue for the quarter was up 87.2% compared to the same quarter last year. research analysts expect that Celldex Therapeutics will post -0.72 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of CLDX. Cubist Systematic Strategies LLC bought a new position in shares of Celldex Therapeutics during the 3rd quarter valued at about $101,000. Bank of New York Mellon Corp boosted its holdings in Celldex Therapeutics by 3.6% in the third quarter. Bank of New York Mellon Corp now owns 622,430 shares of the biopharmaceutical company's stock worth $1,780,000 after purchasing an additional 21,905 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of Celldex Therapeutics during the fourth quarter valued at about $187,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Celldex Therapeutics by 0.7% in the third quarter.

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WARNING: "BidaskClub Upgrades Celldex Therapeutics (CLDX) to Hold" was originally published by Week Herald and is the property of of Week Herald.

Celldex believes its pipeline prioritization and organizational restructuring efforts will extend financial resources beyond the guidance issued in the Company's year-end 2017 earnings press release and associated filings.

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