Q3 2023 Earnings Forecast for Celldex Therapeutics, Inc. Issued By Lifesci Capital (NASDAQ:CLDX)

Posted by Defense World Staff on Aug 12th, 2023

Celldex Therapeutics, Inc. (NASDAQ:CLDX – Free Report) – Analysts at Lifesci Capital increased their Q3 2023 earnings estimates for Celldex Therapeutics in a research note issued on Wednesday, August 9th. Lifesci Capital analyst S. Slutsky now anticipates that the biopharmaceutical company will post earnings per share of ($0.62) for the quarter, up from their prior forecast of ($0.64). The consensus estimate for Celldex Therapeutics’ current full-year earnings is ($2.64) per share. Lifesci Capital also issued estimates for Celldex Therapeutics’ Q4 2023 earnings at ($0.62) EPS and FY2023 earnings at ($2.51) EPS.

A number of other analysts have also recently commented on CLDX. Cantor Fitzgerald cut their price target on shares of Celldex Therapeutics from $55.00 to $54.00 in a research note on Friday, May 5th. HC Wainwright reiterated a “buy” rating and issued a $73.00 price target on shares of Celldex Therapeutics in a research note on Thursday. Finally, StockNews.com upgraded shares of Celldex Therapeutics to a “sell” rating in a research note on Friday, June 2nd.

Check Out Our Latest Analysis on CLDX

Celldex Therapeutics Price Performance

Shares of CLDX stock opened at $30.23 on Friday. The stock has a market cap of $1.43 billion, a P/E ratio of -12.60 and a beta of 2.10. The company has a fifty day moving average price of $35.39 and a two-hundred day moving average price of $37.05. Celldex Therapeutics has a one year low of $27.01 and a one year high of $48.40.

Hedge Funds Weigh In On Celldex Therapeutics

Several large investors have recently modified their holdings of CLDX. Wellington Management Group LLP raised its position in shares of Celldex Therapeutics by 61.5% in the first quarter. Wellington Management Group LLP now owns 3,529,840 shares of the biopharmaceutical company’s stock valued at $120,227,000 after purchasing an additional 1,343,864 shares during the period. Pictet Asset Management SA bought a new position in Celldex Therapeutics during the first quarter worth about $28,051,000. State Street Corp increased its position in Celldex Therapeutics by 20.4% during the second quarter. State Street Corp now owns 3,228,852 shares of the biopharmaceutical company’s stock worth $87,050,000 after acquiring an additional 546,124 shares during the period. Point72 Asset Management L.P. increased its position in Celldex Therapeutics by 274.7% during the fourth quarter. Point72 Asset Management L.P. now owns 505,800 shares of the biopharmaceutical company’s stock worth $22,544,000 after acquiring an additional 370,800 shares during the period. Finally, Jennison Associates LLC increased its position in Celldex Therapeutics by 22.1% during the fourth quarter. Jennison Associates LLC now owns 1,555,318 shares of the biopharmaceutical company’s stock worth $69,321,000 after acquiring an additional 281,297 shares during the period.

About Celldex Therapeutics

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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 diseases and various forms of cancer. The company's clinical development programs CDX-0159, a Phase II monoclonal antibody that binds the receptor tyrosine kinase KIT and inhibits its activity; CDX-1140, a human agonist monoclonal antibody targeted to CD40, a key activator of immune response, which is found on dendritic cells, macrophages, and B cells, as well as is expressed on various cancer cells; and CDX-527, a bispecific antibody, which uses the company's proprietary active anti-PD-L1 and CD27 human antibodies to couple CD27 costimulation with blockade of the PD-L1/PD-1 pathway to help prime and activate anti-tumor T cell responses through CD27 costimulation.