Celldex Therapeutics (CLDX) Stock Up on Q2 Results

NEW YORK (TheStreet) -- Shares of Celldex Therapeutics (CLDX) were advancing in mid-afternoon trading on Tuesday after the company posted a smaller-than-expected loss for the 2016 second quarter.

Following yesterday's market close, the Hampton, NJ-based biopharmaceutical company reported a net loss of 32 cents per share, while analysts had projected a loss of 34 cents per share.

Revenue for the quarter was $1.4 million, above Wall Street's estimates of $850,000.

Additionally, Celldex believes it has sufficient capital to continue operations through 2018.

"Cash, cash equivalents and marketable securities at June 30, 2016 combined with the anticipated proceeds from future sales of our common stock under our $60 million sales agreement with Cantor Fitzgerald are sufficient to meet estimated working capital requirements and fund planned operations through 2018," the company stated.

Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.

The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: CLDX

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