Equities researchers at Cantor Fitzgerald raised their target price on shares of Celldex Therapeutics (NASDAQ: CLDX)
The analysts wrote, ?We are raising our price target on shares of Celldex to $16 from $13 based on our assessment that the company is likely to see revenues from both CDX-011 and rindopepimut in 2016 versus our original forecast of 2017. We have been conservative in our modeling but based on the current timeline of completion of clinical trials and assumption of FDA priority review, we are now modeling revenue in 2016 and 2017 of $68 and $300 million, respectively and our EPS forecasts for those years are now ($0.15) and $1.60.? Celldex Therapeutics opened at 12.32 on Friday. Celldex Therapeutics has a 52-week low of $3.82 and a 52-week high of $12.49. The stock?s 50-day moving average is currently $8.52. Celldex Therapeutics last released its earnings data on Thursday, March 7th. The company reported ($0.27) earnings per share for the quarter, missing the analysts? consensus estimate of ($0.25) by $0.02. The company had revenue of $3.65 million for the quarter, compared to the consensus estimate of $2.45 million. During the same quarter last year, the company posted ($0.29) earnings per share. Celldex Therapeutics?s revenue was up 50.0% compared to the same quarter last year. Analysts expect that Celldex Therapeutics will post $-0.83 EPS for the current fiscal year.
CLDX has been the subject of a number of other recent research reports. Analysts at Leerink Swann initiated coverage on shares of Celldex Therapeutics in a research note to investors on Wednesday. They set an ?outperform? rating and a $18.00 price target on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Celldex Therapeutics from $10.00 to $13.00 in a research note to investors on Tuesday, February 26th. They now have an ?outperform? rating on the stock. Finally, analysts at Roth Capital reiterated a ?buy? rating on shares of Celldex Therapeutics in a research note to investors on Tuesday, January 22nd. They now have a $16.00 price target on the stock. Celldex Therapeutics, Inc. (Celldex) is a biopharmaceutical company, which applies its Precision Targeted Immunotherapy Platform to generate a pipeline of candidates to treat cancer and other difficult-to-treat diseases.