Celldex Therapeutics, Inc. (CLDX)

NASDAQHealth CareBiotechnologySnapshot 2026-10-23

$29.25+0.97%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Celldex Therapeutics, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	1.2M
EPS	—	-1.024
Annual ending 2026-12-31
Revenue	—	1.7M
EPS	—	-4.133
Annual ending 2027-12-31
Revenue	—	8.76M
EPS	—	-4.229

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Maintain sufficient cash to fund operations through 2028	Celldex aims to keep enough cash to fund operations through 2028.	Improving	Cash reserves fall below levels needed to fund operations through 2028	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Manage and reduce operating losses	It focuses on managing operating losses, which were -$84.4M in 2026-Q1.	Intact	Operating losses worsen or remain at or below -$84M over next 4 quarters	Operating income: $-80.623M FY2026-Q2; GAAP. Published target: Operating losses improve from -$84.4M in 2026-Q1 toward smaller deficits over next 4 quarters. Target period is not explicitly aligned with this observation. Source published Aug 6, 2026-80,623,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 64d8255c-307c-476c-a304-08c85b9d6563. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement. Management context Stated as a priority in 2 quarters: 2026-Q1 and 2026-Q2. Operating losses increased with net loss rising from $56.6 million in 2025-Q2 to $73.5 million in 2026-Q2, driven by higher R&D and G&A expenses related to barzolvolimab clinical and commercial activities. Management acknowledges expense growth but aims to control losses. The trajectory shows increased expenses consistent with development stage. Delivery assessment Oct 24, 2026
Revenue growth from $2.63B in 2026 to $11.96B in 2027	A primary condition in Celldex Therapeutics, Inc.'s published investment case. The stated target is Revenue grows to at least $11.96B in FY27.	Intact	Revenue falls below $2.6B in FY26 or fails to grow toward $11.96B in FY27	Revenue: $22,000 FY2026-Q2; GAAP. Published target: Revenue grows to at least $11.96B in FY27. Target period is not explicitly aligned with this observation. Source published Aug 6, 202622,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 64d8255c-307c-476c-a304-08c85b9d6563. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$-4.23

$-4.44 → $-4.23 · observed estimates

FY2027 revenue$0.01B

$0.01B → $0.01B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$-4.44	$11,042,330	10 / 13
2026-07-25	$-4.44	$11,042,330	10 / 13
2026-07-26	$-4.44	$11,042,330	10 / 13
2026-07-27	$-4.44	$11,042,330	10 / 13
2026-07-28	$-4.44	$11,042,330	10 / 13
2026-07-29	$-4.35	$11,042,330	9 / 9
2026-07-30	$-4.44	$11,042,330	10 / 13
2026-07-31	$-4.35	$11,042,330	9 / 10
2026-08-01	$-4.37	$11,042,330	11 / 13
2026-08-02	$-4.37	$11,042,330	11 / 13
2026-08-03	$-4.37	$11,042,330	11 / 13
2026-08-04	$-4.35	$11,042,330	9 / 10
2026-08-05	$-4.35	$11,042,330	9 / 10
2026-08-06	$-4.35	$11,042,330	9 / 10
2026-08-07	$-4.35	$11,042,330	9 / 10
2026-08-08	$-4.27	$9,513,880	11 / 11
2026-08-09	$-4.35	$11,042,330	9 / 10
2026-08-10	$-4.35	$11,042,330	9 / 10
2026-08-11	$-4.18	$10,030,700	11 / 8
2026-08-12	$-4.35	$11,042,330	9 / 10
2026-08-13	$-4.16	$11,921,110	11 / 12
2026-08-14	$-4.35	$11,042,330	9 / 10
2026-08-15	$-4.35	$11,042,330	9 / 9
2026-08-16	$-4.35	$11,042,330	9 / 9
2026-08-17	$-4.35	$11,042,330	9 / 9
2026-08-18	$-4.35	$11,042,330	9 / 9
2026-08-19	$-4.35	$11,042,330	9 / 9
2026-08-20	$-4.16	$11,004,099	9 / 9
2026-08-21	$-4.16	$11,004,099	9 / 9
2026-08-22	$-4.16	$11,004,099	9 / 9
2026-08-23	$-4.16	$11,004,099	9 / 9
2026-08-24	$-4.16	$11,004,099	9 / 9
2026-08-25	$-4.16	$11,004,099	9 / 9
2026-08-26	$-4.16	$11,004,099	9 / 9
2026-08-27	$-4.16	$11,004,099	9 / 9
2026-08-28	$-4.16	$11,004,099	9 / 9
2026-08-29	$-4.16	$11,004,099	9 / 9
2026-08-30	$-4.16	$11,004,099	9 / 9
2026-08-31	$-4.16	$11,004,099	9 / 9
2026-09-01	$-4.16	$11,004,099	9 / 9
2026-09-02	$-4.16	$11,004,099	9 / 9
2026-09-03	$-4.16	$11,004,099	9 / 9
2026-09-04	$-4.16	$11,004,099	9 / 9
2026-09-05	$-4.16	$11,004,099	9 / 9
2026-09-06	$-4.16	$11,004,099	9 / 8
2026-09-07	$-4.16	$11,004,099	9 / 8
2026-09-08	$-4.19	$11,667,774	9 / 8
2026-09-09	$-4.19	$11,667,774	9 / 8
2026-09-10	$-4.19	$11,667,774	8 / 8
2026-09-11	$-4.21	$9,813,929	8 / 8
2026-09-12	$-4.21	$9,813,929	8 / 8
2026-09-13	$-4.21	$9,813,929	8 / 8
2026-09-14	$-4.21	$9,813,929	8 / 8
2026-09-15	$-4.21	$9,813,929	8 / 8
2026-09-16	$-4.21	$9,813,929	8 / 8
2026-09-17	$-4.21	$9,813,929	8 / 8
2026-09-18	$-4.21	$9,813,929	8 / 8
2026-09-19	$-4.21	$9,813,929	8 / 8
2026-09-20	$-4.21	$9,813,929	8 / 8
2026-09-21	$-4.21	$9,813,929	8 / 8
2026-09-22	$-4.21	$9,813,929	8 / 8
2026-09-23	$-4.22	$9,954,501	8 / 8
2026-09-24	$-4.22	$9,954,501	8 / 8
2026-09-25	$-4.22	$9,954,501	8 / 8
2026-09-26	$-4.22	$9,954,501	8 / 9
2026-09-27	$-4.22	$9,954,501	8 / 9
2026-09-28	$-4.22	$9,954,501	8 / 9
2026-09-29	$-4.22	$9,954,501	8 / 9
2026-09-30	$-4.22	$9,954,501	8 / 9
2026-10-01	$-4.22	$9,954,501	8 / 9
2026-10-02	$-4.22	$9,954,501	8 / 9
2026-10-03	$-4.22	$9,954,501	8 / 9
2026-10-04	$-4.22	$9,954,501	8 / 9
2026-10-05	$-4.22	$9,954,501	8 / 9
2026-10-06	$-4.22	$9,954,501	8 / 9
2026-10-07	$-4.22	$9,954,501	8 / 9
2026-10-08	$-4.22	$9,954,501	8 / 9
2026-10-09	$-4.22	$9,954,501	8 / 9
2026-10-10	$-4.22	$9,954,501	8 / 9
2026-10-11	$-4.22	$9,954,501	8 / 9
2026-10-12	$-4.22	$9,954,501	8 / 9
2026-10-13	$-4.22	$9,954,501	8 / 9
2026-10-14	$-4.22	$9,954,501	8 / 9
2026-10-15	$-4.22	$9,954,501	8 / 9
2026-10-16	$-4.22	$9,954,501	8 / 9
2026-10-17	$-4.22	$9,954,501	8 / 9
2026-10-18	$-4.22	$9,954,501	8 / 9
2026-10-19	$-4.22	$9,954,501	8 / 9
2026-10-20	$-4.22	$9,954,501	8 / 9
2026-10-21	$-4.23	$8,759,642	8 / 9
2026-10-22	$-4.23	$8,759,642	8 / 9
2026-10-23	$-4.23	$8,759,642	8 / 9
2026-10-24	$-4.23	$8,759,642	8 / 8

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold
2026-05-01	14	1
2026-06-01	15	1
2026-07-01	15	1
2026-08-01	15	1
2026-09-01	15	1
2026-10-01	14	1

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 14 Buy / Strong Buy · 1 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades1 maintains

Recent actions · Sep 25–Oct 24 · 1 recorded

Price-target changes

30 days

Individual price-target observations are unavailable.

0 raises · 0 cuts · 0 unchanged · 0 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Maintain sufficient cash to fund operations through 2028Direct metric needs a verified mapping
Manage and reduce operating lossesOperating income: $-80.623M
Revenue growth from $2.63B in 2026 to $11.96B in 2027Revenue: $22,000

Next proof point

Nov 9, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

1.5%Typical daily move · historical

Downside history

-38.6%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Celldex Therapeutics, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a clinical-stage biotechnology company with a speculative growth profile, not a proven earnings compounder. The long-term thesis is on watch: management is on track with its lead program and liquidity plans, but recent performance has lagged its industry cohort.

What's priced into Celldex Therapeutics, Inc.

The evidence snapshot provides no valuation comparison or specific account of market expectations, so whether CLDX looks cheap, fair, or expensive versus peers is unclear. The muted reaction to recent developments and the low fragility reading offer limited context, but they do not establish what outcomes are already priced in.

What the fundamentals likely do

Near term, results may remain uneven: CLDX had an earnings miss in May and a beat in August, while the evidence flags a 41% miss probability and elevated risk. Over the multi-year view, barzolvolimab’s Phase 3 CSU enrollment is complete, with topline results expected in late 2026 and a BLA filing planned for 2027; cash rose in the second quarter after a public offering, and management says funding is sufficient through 2028.

What Celldex Therapeutics, Inc. hinges on

The key multi-year swing factor is whether barzolvolimab delivers the expected trial results and advances toward the planned filing. Near term, a guidance cut or further weakness in jobs data could weigh on the setup, while strong results and guidance from healthcare bellwethers could support sector momentum. CDX-622 has shown early clinical progress, but its development status remains mixed.