CytomX Therapeutics Inc (NASDAQ:CTMX) Receives Average Recommendation of “Buy” from Analysts
CytomX Therapeutics Inc (NASDAQ:CTMX) has been given an average recommendation of “Buy” by the fourteen research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $20.91.
Several brokerages recently commented on CTMX. Zacks Investment Research downgraded shares of German American Bancorp. from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. HC Wainwright reissued a “buy” rating and issued a $1.75 price objective on shares of Orion Energy Systems in a research note on Wednesday, April 3rd. Mizuho began coverage on shares of CytomX Therapeutics in a research note on Wednesday, June 12th. They issued a “buy” rating and a $16.00 price objective for the company. BidaskClub raised shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $23.00 price objective (up previously from $21.00) on shares of CytomX Therapeutics in a research note on Monday, June 3rd.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP acquired a new position in CytomX Therapeutics in the 1st quarter valued at approximately $263,000. DekaBank Deutsche Girozentrale increased its position in CytomX Therapeutics by 21.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 14,700 shares of the biotechnology company’s stock valued at $334,000 after acquiring an additional 2,600 shares during the period. Fosun International Ltd increased its position in CytomX Therapeutics by 48.8% in the 1st quarter. Fosun International Ltd now owns 52,445 shares of the biotechnology company’s stock valued at $551,000 after acquiring an additional 17,200 shares during the period. Pictet Asset Management Ltd. increased its position in CytomX Therapeutics by 0.9% in the 1st quarter. Pictet Asset Management Ltd. now owns 611,356 shares of the biotechnology company’s stock valued at $6,572,000 after acquiring an additional 5,670 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in CytomX Therapeutics in the 1st quarter valued at approximately $1,293,000. Hedge funds and other institutional investors own 81.83% of the company’s stock.
CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.31) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.53) by $0.22. The business had revenue of $29.49 million during the quarter, compared to the consensus estimate of $13.59 million. CytomX Therapeutics had a negative net margin of 111.27% and a negative return on equity of 73.62%. As a group, equities analysts expect that CytomX Therapeutics will post -2.13 earnings per share for the current fiscal year.
About CytomX Therapeutics
CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 immuno-oncology target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel drug target; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.
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