Zacks Investment Research cut shares of Celldex Therapeutics Inc. (NASDAQ:CLDX) from a buy rating to a hold rating in a research report released on Tuesday.

According to Zacks, “Celldex’s third-quarter results were encouraging with the company reporting narrower-than-expected loss and revenues surpassing expectations. The company’s efforts to build its immuno-oncology pipeline are also impressive.  The upcoming Kolltan acquisition bodes well for the company. Meanwhile, Celldex’s lead pipeline candidate, glembatumumab vedotin, is in mid-stage development for different types of cancer. We are encouraged by Celldex’s partnership agreements with big players like Bristol-Myers and Roche. However, with no approved product in its portfolio, Celldex has to depend entirely on product development and licensing agreements, contracts and grants for revenues. We are also concerned about the early-to mid- stage nature of its pipeline. With a number of ongoing studies, any development or regulatory setback would weigh heavily on the stock. Stiff competition in the immuno-oncology space remains a threat as well.”

A number of other equities research analysts have also recently commented on the company. Roth Capital set a $7.00 target price on Celldex Therapeutics and gave the stock a buy rating in a research note on Wednesday, November 2nd. Brean Capital assumed coverage on Celldex Therapeutics in a research note on Tuesday, October 4th. They issued a buy rating and a $16.00 target price on the stock. Cantor Fitzgerald reissued a buy rating and issued a $9.00 target price on shares of Celldex Therapeutics in a research note on Monday, October 10th. Aegis assumed coverage on Celldex Therapeutics in a research note on Monday, November 7th. They issued a buy rating on the stock. Finally, Wedbush reissued a neutral rating and issued a $3.00 target price on shares of Celldex Therapeutics in a research note on Tuesday, August 9th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $7.44.

Shares of Celldex Therapeutics (NASDAQ:CLDX) opened at 4.02 on Tuesday. The company has a 50-day moving average price of $3.77 and a 200-day moving average price of $4.09. Celldex Therapeutics has a 52 week low of $2.85 and a 52 week high of $18.31. The company’s market capitalization is $407.02 million.

Celldex Therapeutics (NASDAQ:CLDX) last posted its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. The business earned $2.20 million during the quarter, compared to the consensus estimate of $1.09 million. Celldex Therapeutics had a negative return on equity of 51.46% and a negative net margin of 1,923.41%. The firm’s quarterly revenue was up 115.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.32) earnings per share. Analysts predict that Celldex Therapeutics will post ($1.29) earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its position in shares of Celldex Therapeutics by 158.9% in the first quarter. State Street Corp now owns 8,561,225 shares of the biopharmaceutical company’s stock valued at $32,362,000 after buying an additional 5,254,100 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Celldex Therapeutics by 7.3% in the second quarter. Vanguard Group Inc. now owns 7,263,339 shares of the biopharmaceutical company’s stock valued at $31,886,000 after buying an additional 492,102 shares during the last quarter. Columbia Wanger Asset Management LLC boosted its position in shares of Celldex Therapeutics by 76.8% in the second quarter. Columbia Wanger Asset Management LLC now owns 5,261,934 shares of the biopharmaceutical company’s stock valued at $23,100,000 after buying an additional 2,285,534 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Celldex Therapeutics by 7.1% in the third quarter. BlackRock Fund Advisors now owns 4,035,089 shares of the biopharmaceutical company’s stock valued at $16,302,000 after buying an additional 267,733 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Celldex Therapeutics by 1.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,395,596 shares of the biopharmaceutical company’s stock valued at $9,678,000 after buying an additional 22,747 shares during the last quarter. 67.97% of the stock is currently owned by institutional investors and hedge funds.

About Celldex Therapeutics

Celldex Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the development and commercialization of several immunotherapy technologies for the treatment of cancer and other diseases. Its lead drug Rintega (rindopepimut and CDX-110) is a therapeutic vaccine in clinical studies for the treatment of glioblastoma patients that express a specific cancer marker known as type III epidermal growth factor receptor mutation (EGFRvIII).

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