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What's in Store for Celldex (CLDX) This Earnings Season?
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Celldex Therapeutics, Inc. (CLDX - Free Report) is expected to report second-quarter 2018 results on Aug 14.
The company has a good track record with earnings beating estimates thrice and missing the same once, delivering an average positive earnings surprise of 16.00%. However, last quarter, the company delivered a negative earnings surprise of 11.76%.
Celldex Therapeutics’ shares have lost 83.7% so far this year compared with a 5.3% decline for the industry during this period.
Let’s see how things are shaping up for this announcement.
Factors at Play
With no approved product in its portfolio, Celldex recognizes revenues entirely from collaboration agreements, and contracts and grants. Thus, investor focus will remain on pipeline development.
In April 2018, Celldex suffered a setback when its lead antibody-drug conjugate (“ADC”) candidate, glembatumumab vedotin, failed in the phase IIb breast cancer study – METRIC. Following the failure, the company discontinued the development of the candidate across all indications including metastatic melanoma. The company also discontinued of development of early phase ADC candidate, CDX-014, and antibody fusion protein candidate, CDX-1401, during the quarter. The company took this decision for better allocation of its resources.
The company is currently focusing on five pipeline candidates — varlilumab, CDX-3379, CDX-301, CDX-014 and CDX-1140.
Celldex is currently evaluating varlilumab in combination with Bristol-Myers’ (BMY - Free Report) Opdivo in a phase II study in several indications. In June, Celldex presented data at ASCO annual meeting, which showed that varlilumab holds considerable potential in combination with an anti-PD-L1 therapy.
The company is developing CDX-3379 in several clinical studies as monotherapy or in combination regimens for the treatment of head and neck squamous cell cancer. Data presented at ASCO annual meeting from two studies showed encouraging activity.
Early data from a phase II study evaluating a CDX-301 combination regimen showed promise in patients with advanced non-small cell lung cancer.
With termination of several clinical studies, R&D cost is expected to decline this quarter.
Earnings Whispers
Our proven model does not conclusively show that Celldex is likely to beat estimates this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to be able to beat estimates. But that is not the case here, as you will see below.
Earnings ESP: Celldex has an Earnings ESP of 0.00%. This is because both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at a loss of 14 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Celldex has a Zacks Rank #4 (Sell).
Note that we caution against stocks with a Zacks Rank #4 or 5 (Strong Sell) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Here are some biotech stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this quarter.
BioDelivery Sciences International, Inc. has an Earnings ESP of +3.23% and a Zacks Rank #2. The company is scheduled to release second-quarter results on Aug 9. You can see the complete list of today’s Zacks #1 Rank stocks here.
bluebird bio, Inc. (BLUE - Free Report) has an Earnings ESP of +15.47% and a Zacks Rank #3. The company is expected to release second-quarter results on Aug 1.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Image: Bigstock
What's in Store for Celldex (CLDX) This Earnings Season?
Celldex Therapeutics, Inc. (CLDX - Free Report) is expected to report second-quarter 2018 results on Aug 14.
The company has a good track record with earnings beating estimates thrice and missing the same once, delivering an average positive earnings surprise of 16.00%. However, last quarter, the company delivered a negative earnings surprise of 11.76%.
Celldex Therapeutics’ shares have lost 83.7% so far this year compared with a 5.3% decline for the industry during this period.
Let’s see how things are shaping up for this announcement.
Factors at Play
With no approved product in its portfolio, Celldex recognizes revenues entirely from collaboration agreements, and contracts and grants. Thus, investor focus will remain on pipeline development.
In April 2018, Celldex suffered a setback when its lead antibody-drug conjugate (“ADC”) candidate, glembatumumab vedotin, failed in the phase IIb breast cancer study – METRIC. Following the failure, the company discontinued the development of the candidate across all indications including metastatic melanoma. The company also discontinued of development of early phase ADC candidate, CDX-014, and antibody fusion protein candidate, CDX-1401, during the quarter. The company took this decision for better allocation of its resources.
The company is currently focusing on five pipeline candidates — varlilumab, CDX-3379, CDX-301, CDX-014 and CDX-1140.
Celldex is currently evaluating varlilumab in combination with Bristol-Myers’ (BMY - Free Report) Opdivo in a phase II study in several indications. In June, Celldex presented data at ASCO annual meeting, which showed that varlilumab holds considerable potential in combination with an anti-PD-L1 therapy.
The company is developing CDX-3379 in several clinical studies as monotherapy or in combination regimens for the treatment of head and neck squamous cell cancer. Data presented at ASCO annual meeting from two studies showed encouraging activity.
Early data from a phase II study evaluating a CDX-301 combination regimen showed promise in patients with advanced non-small cell lung cancer.
With termination of several clinical studies, R&D cost is expected to decline this quarter.
Earnings Whispers
Our proven model does not conclusively show that Celldex is likely to beat estimates this quarter. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to be able to beat estimates. But that is not the case here, as you will see below.
Earnings ESP: Celldex has an Earnings ESP of 0.00%. This is because both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at a loss of 14 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Celldex has a Zacks Rank #4 (Sell).
Note that we caution against stocks with a Zacks Rank #4 or 5 (Strong Sell) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Celldex Therapeutics, Inc. Price and EPS Surprise
Celldex Therapeutics, Inc. Price and EPS Surprise | Celldex Therapeutics, Inc. Quote
Stocks That Warrant a Look
Here are some biotech stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this quarter.
BioDelivery Sciences International, Inc. has an Earnings ESP of +3.23% and a Zacks Rank #2. The company is scheduled to release second-quarter results on Aug 9. You can see the complete list of today’s Zacks #1 Rank stocks here.
bluebird bio, Inc. (BLUE - Free Report) has an Earnings ESP of +15.47% and a Zacks Rank #3. The company is expected to release second-quarter results on Aug 1.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>