CytomX Therapeutics, Inc. (NASDAQ:CTMX) Stock Has Average Price Target of $11.90 According to Brokerages

Key Points

• Analysts hold a “Moderate Buy” consensus on CytomX Therapeutics, with nine buy ratings, one strong buy, one hold and one sell. The average 12-month price target is $11.90, well above the stock’s reported price of $2.40.
• Institutional ownership is substantial at 67.77%, with BlackRock, Bank of America and other hedge funds recently establishing significant positions.
• CytomX reported weak quarterly results, posting an EPS loss of $0.09 versus an expected $0.08 loss and revenue of $1.42 million versus the $12.39 million consensus estimate. The stock was trading near its 12-month low and remained unprofitable.

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twelve analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $11.90.

Several analysts recently commented on the stock. Guggenheim cut their price objective on shares of CytomX Therapeutics from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of CytomX Therapeutics in a report on Friday, September 11th. Zacks Research cut shares of CytomX Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. Wall Street Zen downgraded shares of CytomX Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, August 23rd. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of CytomX Therapeutics in a research note on Tuesday, October 13th.

Hedge Funds Weigh In On CytomX Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in CytomX Therapeutics in the 2nd quarter valued at approximately $65,849,000. Bank of America Corp DE purchased a new stake in CytomX Therapeutics during the 2nd quarter valued at $56,560,000. Elmind Capital LP purchased a new stake in CytomX Therapeutics during the 2nd quarter valued at $17,062,500. Siren L.L.C. bought a new stake in shares of CytomX Therapeutics in the 1st quarter worth $16,251,000. Finally, ADAR1 Capital Management LLC bought a new stake in shares of CytomX Therapeutics in the 2nd quarter worth $12,619,000. 67.77% of the stock is currently owned by hedge funds and other institutional investors.

CytomX Therapeutics Trading Down 4.4%

NASDAQ CTMX opened at $2.40 on Thursday. CytomX Therapeutics has a 12 month low of $2.20 and a 12 month high of $8.21. The stock's fifty day moving average price is $2.98 and its 200-day moving average price is $3.44. The stock has a market cap of $522.96 million, a P/E ratio of -4.80 and a beta of 2.21.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The company had revenue of $1.42 million during the quarter, compared to analysts' expectations of $12.39 million. CytomX Therapeutics had a negative return on equity of 38.46% and a negative net margin of 435.21%. As a group, analysts forecast that CytomX Therapeutics will post -0.40 earnings per share for the current fiscal year.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing cancer medicines designed to be activated selectively within the tumor microenvironment. The company's approach is intended to improve the precision of treatment by limiting activity in healthy tissues while enabling therapeutic effects at tumor sites.

CytomX's research is based on its Probody therapeutic platform, which uses molecular masking and tumor-associated protease activity to conditionally activate antibody-based medicines.

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