In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from CLDX and the news from its closest competitors.
Recent EPS Actuals vs. Estimates
The company has failed to meet analysts' estimates in the last three quarters. In the last quarter it reported ($0.27) loss per share, failing to meet analyst estimates of ($0.24) loss.
The consensus EPS estimate is ($0.25) loss based on 7 analysts' estimates, up from ($0.27) loss a year ago. Revenue estimates are $2.17M, up from $1.96M a year ago. The median target price by analysts for the stock is $7.50.
Average recommendation: Buy
Analyst Upgrades and Downgrades
- On April 3, 2012, Cantor Fitzgerald initiated Buy rating for the company.
- On May 23, 2012, Celldex Therapeutics, Inc announced preliminary results from the Company's randomized Phase 2b EMERGE study of CDX-011 (glembatumumab vedotin) antibody drug conjugate in patients with glycoprotein NMB (GPNMB) expressing, advanced, heavily pretreated breast cancer.
- On February 24, 2012, Celldex Therapeutics Inc announced the pricing of an underwritten public offering of 10,500,000 shares of its common stock, offered at a price to the public of $3.85 per share for an aggregate offering of $40,425,000 of common stock.
- On February 23, 2012, Celldex Therapeutics, Inc. announced that it is offering shares of its common stock in an underwritten public offering. All of the shares in the offering will be sold by Celldex.
Amgen (AMGN), Dendreon (DNDN), Exelixis (EXEL), Pfizer (PFE), and Seattle Genetics (SGEN) are peers for comparison for Celldex and chart below compares the stock price changes as a percentage for the selected companies for the last one year period.
Competitors' Latest Development
- On August 6, 2012, Exelixis, Inc. announced that it plans to offer, subject to market and other conditions, 20,000,000 shares of its common stock and $225 million aggregate principal amount of convertible senior subordinated notes due 2019 in concurrent underwritten public offerings.
- On July 31, 2012, Pfizer Inc announced top-line results from ORAL Start (A3921069), a Phase 3 study of the investigational agent tofacitinib, a oral Janus kinase (JAK) inhibitor for the treatment of adults with moderate-to-severe active rheumatoid arthritis (RA).
- On July 31, 2012, Pfizer Inc reaffirmed fiscal 2012 financial guidance, reflecting solid performance year-to-date, continued confidence in the business, financial flexibility and the significant cost savings generated by cost-reduction and productivity initiatives.
- On July 30, 2012, Reuters reported that Dendreon Corp said it would close one of its three manufacturing plants and cut more than 600 full-time and contractor jobs over the next 12 months, with the aim of reducing annual costs by about $150 million a year.
- On July 30, 2012, Reuters reported that U.S. health regulators granted a priority review for Exelixis, Inc. experimental drug to treat a rare form of thyroid cancer. Exelixis said the U.S. Food and Drug Administration set a review date of November 29 for the drug, cabozantinib, designed to treat medullary thyroid cancer.
- On July 28, 2012, Reuters reported that Pfizer Inc will return three products it was developing using Acura Pharmaceuticals Inc's abuse resistant technology, Acura said on July 27, 2012.
- On July 26, 2012, Amgen, Inc. announced that for fiscal 2012, it expects otal revenues to be in the range of $16.9 billion to $17.2 billion and adjusted EPS to be in the range of $6.20 to $6.35.
- On July 26, 2012, Exelixis, Inc. announced the initiation of two investigator-sponsored trials (ISTs) of cabozantinib, which simultaneously targets MET, VEGFR2 and RET. Naiyer Rizvi, M.D., a lung cancer specialist at Memorial Sloan Kettering Cancer Center (MSKCC), is conducting a phase II clinical trial of cabozantinib in non-small cell lung cancer (NSCLC) patients who have tested positive for gene fusions that activate RET.
- On July 24, 2012, Reuters reported that Pfizer Inc experimental Alzheimer's disease treatment failed to prove effective in one of four high-stakes late-stage trials in patients with mild to moderate forms of the memory-robbing disease.
- On July 23, 2012, Pfizer Inc announced top-line results for Lyrica (pregabalin) capsules Study A0081147 - Long Term Safety and Efficacy of Pregabalin in Subjects with Generalized Anxiety Disorder (GAD) - demonstrate that drug discontinuation symptoms were low after tapering Lyrica treatment following three months and six months in GAD patients.
- On July 19, 2012, Amgen, Inc. announced that its Board of Directors declared a $0.36 per share dividend for the third quarter of 2012. The dividend will be paid on Sept.
- On July 19, 2012, Pfizer Inc announced that the European Medicines Agency (EMA) accepted for review the Marketing Authorization Application (MAA) for bazedoxifene/conjugated estrogens (BZA/CE), a potential new medicine for postmenopausal women with a uterus for the treatment of estrogen deficiency symptoms and treatment of osteoporosis in women at risk of fracture.
- On July 19, 2012, Pfizer Inc. announced that the United States District Court for the District of Delaware upheld its composition of matter patent and pain and seizure use patents covering LYRICA (pregabalin) capsules CV. With this decision, Pfizer will exclusively provide pregabalin as LYRICA to patients through December 30, 2018 in the U.S., pending generic company appeal and further litigation.
- On July 6, 2012, Reuters reported that Five big U.S. retailers filed an antitrust lawsuit against Pfizer Inc and India's Ranbaxy Laboratories Ltd, accusing them of conspiring to delay sales of generic versions of Lipitor.
- On July 5, 2012, Amgen, Inc. announced the completion of the acquisition of KAI Pharmaceuticals, a privately held company based in South San Francisco. The acquisition was initially announced April 10, 2012 and includes KAI's lead product candidate KAI-4169, which is a agent being studied initially for the treatment of secondary hyperparathyroidism in patients with chronic kidney disease who are on dialysis.
- On July 4, 2012, Reuters reported that Nestle SA has signed a $8.5 billion syndicated bridge loan to back its $11.85 billion takeover of Pfizer, Inc.'s infant nutrition business.
- On July 2, 2012, NPS Pharmaceuticals, Inc. announced that it has amended its license agreement with Amgen for royalties from sales of cinacalcet HCl (Sensipar/Mimpara).
- On June 29, 2012, Pfizer Inc announced that its Board of Directors declared a $0.22 third-quarter 2012 dividend on the Company`s common stock, payable September 5, 2012, to shareholders of record at the close of business on August 3, 2012.
- On June 28, 2012, Breckenridge Pharmaceutical, Inc. announced that Breckenridge and Alembic Pharmaceuticals Limited were named codefendants in a Paragraph IV lawsuit filed by Pfizer Inc. concerning their ANDA desvenlafaxine succinate extended-release tablets 50mg and 100mg, a generic version of Pristiq by Pfizer Inc. Breckenridge and Alembic filed their Paragraph IV ANDA on the first-possible submission date and expects to share 180-day exclusivity with other ANDA first filers.
- On June 28, 2012, Reuters reported that Nestle SA has been talking to banks about raising a new EUR7 billion ($8.7 billion) syndicated loan to help fund its $11.85 billion takeover of Pfizer, Inc.'s Nutrition.
- On June 25, 2012, Bristol-Myers Squibb Co and Pfizer, Inc. announced that the U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) regarding the New Drug Application (NDA) for ELIQUIS (apixaban) for the prevention of stroke and systemic embolism in patients with nonvalvular atrial fibrillation.
- On June 22, 2012, Pfizer Inc and Protalix BioTherapeutics, Inc. announced that the European Medicines Agency 's Committee for Medicinal Products for Human Use (OTCQB:CHMP) has adopted an Opinion recommending against the Marketing Authorization of taliglucerase alfa, an enzyme replacement therapy (ERT) for the treatment of Gaucher disease.
- On June 21, 2012, Pfizer Inc announced that the U.S. Food and Drug Administration (FDA) approved the use of Lyrica (pregabalin) capsules CV for the management of neuropathic pain associated with spinal cord injury.
- On June 19, 2012, Pfizer Inc announced that the PROFILE 1007 study met its primary endpoint, demonstrating that XALKORI (crizotinib) significantly improved progression-free survival (PFS) when compared with pemetrexed or docetaxel, in previously treated patients with anaplastic lymphoma kinase (ALK)-positive advanced non-small cell lung cancer (NSCLC).
- On June 18, 2012, Reuters reported that U.S. health regulators declined to approve a Pfizer Inc's drug for a rare and fatal neurodegenerative disease until a second study can establish the effectiveness of the treatment.
- On June 18, 2012, Reuters reported that Takeda Pharmaceutical Company Limited will stop distributing 13 Pfizer, Inc. drugs it now sells in Japan at the end of this year and Pfizer itself will begin selling them from 2013.
- On June 14, 2012, Seattle Genetics announced updated survival data from a pivotal clinical trial of single-agent ADCETRIS (brentuximab vedotin) in patients with relapsed or refractory Hodgkin lymphoma (HL) after autologous stem cell transplant (ASCT) showing that the median overall survival has not been reached after a 26.5 month median follow-up.
- On June 13, 2012, Reuters reported that CVS Caremark Corporation and Rite Aid Corporation filed an antitrust lawsuit accusing Pfizer Inc and Teva Pharmaceutical Industries Ltd of conspiring to keep generic versions of antidepressant Effexor XR off store shelves.
- On June 12, 2012, Amgen, Inc. announced the completion of the acquisition of more than 99% of the shares of Mustafa Nevzat Pharmaceuticals, a privately held Turkish company.
- On June 12, 2012, Reuters reported that Britain's healthcare cost watchdog has had second thoughts about using Amgen, Inc's new bone drug Xgeva, or denosumab, and now says it does not believe it should be offered on the state health service to prostate cancer patients.
- On June 7, 2012, Pfizer Inc announced the next steps in the strategic alternatives review process for the Company's Animal Health business. Preparations are underway to file a registration statement in the U.S. for a potential initial public offering (NYSEARCA:IPO) of a minority ownership stake in the new company.
- On June 6, 2012, Reuters reported that Pfizer Inc will cut 177 jobs in Ireland following the expiration of patents on blockbuster cholesterol drug Lipitor, highlighting the exposure of Ireland's export-driven economy to the patent cliff facing many in the pharmaceutical sector.
- On June 3, 2012, Exelixis, Inc. reported positive updated interim data from the cohort of hepatocellular carcinoma (HCC) patients participating in the ongoing phase 2 randomized discontinuation trial (RDT) of cabozantinib.
- On June 2, 2012, Seattle Genetics announced data from several clinical trials of ADCETRIS (brentuximab vedotin). Data demonstrate the activity and tolerability when patients are retreated with ADCETRIS, the activity and tolerability of ADCETRIS in CD30-positive non-Hodgkin lymphomas and CD30 expression from a screening protocol in non-lymphoma malignancies.
- On May 25, 2012, Reuters reported that Pfizer Inc said a U.S. health advisory panel voted against its drug to treat a rare neurodegenerative disease as the data did not show enough evidence of efficacy.
- On May 22, 2012, Reuters reported that U.S. drug reviewers on Tuesday recommended rejecting a Pfizer Inc drug because the data did not prove it worked well in treating a rare neurodegenerative disease.
- On May 18, 2012, Pfizer Inc announced the results of studies on Lyrica (pregabalin) capsules CV presented at the American Pain Society Annual Meeting in Honolulu. The studies included exploratory research designed to provide new insight into how Lyrica works in the brains of patients with fibromyalgia.
- On May 9, 2012, Reuters reported that Pfizer Inc won support from a U.S. advisory panel on Wednesday for its arthritis drug. A panel of outside experts to the U.S. Food and Drug Administration voted 8-2 to recommend approval of tofacitinib, a treatment for patients with rheumatoid arthritis who have not had success with at least one other drug for the disease.
The stock has a market capitalization of $284.30M and is currently trading at $4.84 with a 52 week range of $2.05 - $5.72. The stock's year-to-date performance has been 86.15%. It is currently trading above 200 SMA, but below 20 and 50 SMA.
Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.