CytomX Therapeutics, Inc. (NASDAQ:CTMX) Given Average Rating of "Buy" by Brokerages

Key Points

• Analysts have a consensus “Buy” rating on CytomX Therapeutics, with nine buy ratings, two strong-buy ratings and one sell rating. The average 12-month price target is $12.10, well above the stock’s reported $3.46 opening price.
• CytomX reported a quarterly loss of $0.09 per share, slightly worse than the $0.08 consensus estimate, while revenue of $1.42 million fell far short of analysts’ $12.39 million forecast. Analysts expect a full-year loss of approximately $0.45 per share.
• Institutional ownership stands at 67.77%, with BlackRock and several other institutions establishing or adding positions during the second quarter.

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) have been assigned a consensus recommendation of "Buy" from the twelve research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $12.10.

CTMX has been the topic of several recent research reports. HC Wainwright cut their target price on shares of CytomX Therapeutics from $17.00 to $11.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Wolfe Research began coverage on shares of CytomX Therapeutics in a research note on Tuesday, May 19th. They issued an "outperform" rating and a $6.00 price target for the company. Wall Street Zen raised CytomX Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 9th. Zacks Research raised CytomX Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings restated a "sell (d)" rating on shares of CytomX Therapeutics in a report on Tuesday, June 16th.

CytomX Therapeutics Price Performance

Shares of NASDAQ:CTMX opened at $3.46 on Friday. The firm has a market capitalization of $588.86 million, a PE ratio of -6.92 and a beta of 2.12. The firm's 50-day moving average is $3.35 and its two-hundred day moving average is $4.27. CytomX Therapeutics has a 1 year low of $1.72 and a 1 year high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last issued 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). CytomX Therapeutics had a negative return on equity of 45.40% and a negative net margin of 435.21%.The business had revenue of $1.42 million for the quarter, compared to analyst estimates of $12.39 million. Analysts expect that CytomX Therapeutics will post -0.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of CytomX Therapeutics in the 2nd quarter valued at $65,849,000. Deutsche Bank AG acquired a new position in shares of CytomX Therapeutics during the second quarter worth $2,486,000. Pursue Wealth Partners LLC acquired a new position in shares of CytomX Therapeutics during the second quarter worth $54,000. Bank of New York Mellon Corp purchased a new position in CytomX Therapeutics in the second quarter valued at $2,567,000. Finally, State of Wyoming acquired a new stake in CytomX Therapeutics in the second quarter valued at $206,000. Hedge funds and other institutional investors own 67.77% of the company's stock.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX's pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.

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