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Why Is Celldex (CLDX) Up 3.3% Since Last Earnings Report?

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Crown Castle (CCI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
In this article:
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  • CLDX
  • ^GSPC

A month has gone by since the last earnings report for Celldex Therapeutics (CLDX). Shares have added about 3.3% in that time frame, outperforming the S&P 500.

Will the recent positive trend continue leading up to its next earnings release, or is Celldex due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. <p style="text-align: justify;"><u><strong>Celldex Q2 Loss Narrows Y/Y, Revenues Down</strong></u></p><p style="text-align: justify;">Celldex  incurred second-quarter 2018 loss of 11 cents per share, narrower than the Zacks Consensus Estimate of a loss of 14 cents and the year-ago loss of 23 cents.</p><p style="text-align: justify;">Total revenues in the quarter declined 27.8% year over year to $2.8 million. However, it marginally beat the Zacks Consensus Estimate of $2.7 million. The year-over-year decline was due to decrease in contract revenues from the International AIDS Vaccine Initiative.</p><p style="text-align: justify;"><strong>Quarterly Details</strong></p><p style="text-align: justify;">Research and development expenses were down 14.4% year over year to $21.4 million during the quarter mainly due to lower personnel costs and decline in clinical study related expenses. General and administrative expenses were $5.6 million, down 13.8% year over year mainly attributable to lower personnel and marketing expense.</p><p style="text-align: justify;">As of Jun 30, 2018, Celldex had cash, cash equivalents and marketable securities of $114 million compared with $123.2 million as of Mar 31, 2018. The weakened cash position was due to higher operating expense incurred including costs related to discontinuation of glembatumumab vedotin development, partially offset by net proceeds raised from sales of its common stock under a contract with Cantor.</p><p style="text-align: justify;"><strong>2018 Outlook</strong></p><p style="text-align: justify;">Celldex expects that its cash position as of the end of June plus anticipated net proceeds from future sales of its common stock under the agreement with Cantor will be adequate to fund working capital requirements as well as planned operations through 2020.</p>

How Have Estimates Been Moving Since Then?

It turns out, fresh estimates flatlined during the past month. The consensus estimate has shifted -12.12% due to these changes.

VGM Scores

At this time, Celldex has a nice Growth Score of B, however its Momentum Score is doing a bit better with an A. However, the stock was allocated a grade of F on the value side, putting it in the fifth quintile for this investment strategy.

Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.

Outlook

Celldex has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.


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