Leerink Partnrs Has Negative Outlook of CLDX FY2024 Earnings

Celldex Therapeutics, Inc. (NASDAQ:CLDX) – Leerink Partnrs reduced their FY2024 earnings per share (EPS) estimates for Celldex Therapeutics in a research note issued on Wednesday, November 6th. Leerink Partnrs analyst T. Smith now expects that the biopharmaceutical company will earn ($2.45) per share for the year, down from their previous estimate 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.

CLDX has been the topic of a number of other reports. Wells Fargo & Company upgraded shares of Celldex Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group initiated coverage on Celldex Therapeutics in a report on Monday, September 30th. They set a “neutral” rating and a $45.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Celldex Therapeutics in a research report on Thursday, November 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $67.00 price target on shares of Celldex Therapeutics in a research report on Monday, September 16th. Finally, Wolfe Research lowered Celldex Therapeutics from an “outperform” rating to a “peer perform” rating in a report on Friday, September 27th. 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $62.25.

Celldex Therapeutics Stock Up 3.1 %

Shares of NASDAQ CLDX opened at $27.01 on Monday. The firm’s 50-day simple moving average is $33.29 and its 200 day simple moving average is $35.72. The stock has a market cap of $1.79 billion, a P/E ratio of -10.65 and a beta of 1.60. Celldex Therapeutics has a fifty-two week low of $24.43 and a fifty-two week high of $53.18.

Insider Transactions at Celldex Therapeutics

In related news, CEO Anthony S. Marucci bought 11,500 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were bought at an average cost of $26.82 per share, with a total value of $308,430.00. Following the completion of the transaction, the chief executive officer now directly owns 40,284 shares of the company’s stock, valued at approximately $1,080,416.88. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Celldex Therapeutics

A number of large investors have recently made changes to their positions in CLDX. KBC Group NV grew its position in Celldex Therapeutics by 31.2% during the 3rd quarter. KBC Group NV now owns 2,081 shares of the biopharmaceutical company’s stock worth $71,000 after purchasing an additional 495 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Celldex Therapeutics during the second quarter valued at $76,000. Headlands Technologies LLC acquired a new position in Celldex Therapeutics during the first quarter valued at $147,000. CANADA LIFE ASSURANCE Co lifted its stake in Celldex Therapeutics by 26.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the biopharmaceutical company’s stock worth $192,000 after acquiring an additional 955 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in Celldex Therapeutics by 34.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 6,198 shares of the biopharmaceutical company’s stock worth $260,000 after acquiring an additional 1,582 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.