Celldex Therapeutics, Inc. (NASDAQ:CLDX) has announced that the company CEO, Anthony Marucci, would be presenting at the 36th Annual Cowen and Company Healthcare Conference, due to be held on Tuesday, in Boston. The presentation would be focused on the corporate overview of the company. The presentation would also be archived, for 7-days, after the presentation on Celldex website. Added to this, the company had recently released its 4Q2015 results, to report a lower than expected loss.
Analysts at Zacks had expected Celldex to report an EPS of -$0.34, compared to the actual EPS of -$0.33. The figure was also 3-cents lower than that for the same period, during the preceding year. The quarter also experienced a 21.2% increase in revenues, on a year-over-year basis, to $1.8 million. The two main factors for this increase was the company’s recent collaboration, in clinical trials, with Bristol-Myers and an R&D agreement, with Rockfeller University. The company also experienced a 53% increase in full-year revenues.
The CEO of CLDX identified 2015 as a year of progress for Celldex and its product pipeline. He also pointed out that the company had successfully completed the phase-2 study of RINTEGA in recurrent GBM. The results of the study had pointed out a long-term overall survival benefit. However, analysts at TheStreet still believe that the stock is a sell. This is mainly due to the company’s weak operating cash flow and a deteriorating income. The details of the 4Q2015 also revealed higher expenses, related to commercial planning and personnel.
The analysts at Cantor Fitzgerald have downgraded the stock’s target price to $25, but maintained its buy rating. The view is mainly driven by the phase-2 study of RINTEGA, coming to an end. Added to this, the company’s product pipeline is broadening as well. Furthermore, Celldex has also announced that it would be initiating several new studies on RINTEGA, aimed at improving the drug.
Celldex Therapeutics, Inc. (NASDAQ:CLDX) lost 0.73% during the March 4 session, to reach a close at $8.19.