CytomX Therapeutics, Inc. (NASDAQ:CTMX) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• CytomX Therapeutics has a consensus analyst rating of “Moderate Buy” from 11 brokerages, with an average 1-year price target of $12.10. The ratings breakdown includes nine buys, one strong buy, and one sell.
• The stock was trading down 1.6% at $3.70, well below its 12-month high of $8.21 but above its low of $1.72. Its market cap is about $629.7 million.
• CytomX recently reported quarterly earnings that beat expectations, posting EPS of -$0.10 versus estimates of -$0.14 and revenue of $10.26 million versus $4.68 million expected. The company remains unprofitable, and analysts expect full-year EPS of -0.45.

CytomX Therapeutics, Inc. (NASDAQ:CTMX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eleven brokerages that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $12.10.

CTMX has been the subject of a number of research analyst reports. HC Wainwright decreased their price target on CytomX Therapeutics from $17.00 to $11.00 and set a "buy" rating for the company in a research note on Monday, May 11th. Piper Sandler boosted their price target on CytomX Therapeutics from $10.00 to $12.00 and gave the stock an "overweight" rating in a research note on Monday, March 23rd. Wolfe Research began coverage on shares of CytomX Therapeutics in a research report on Tuesday, May 19th. They issued an "outperform" rating and a $6.00 price objective for the company. Jefferies Financial Group lifted their target price on shares of CytomX Therapeutics from $8.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, March 18th. Finally, JPMorgan Chase & Co. upgraded shares of CytomX Therapeutics from a "neutral" rating to an "overweight" rating and upped their price target for the company from $7.00 to $12.00 in a research note on Monday, March 16th.

CytomX Therapeutics Trading Down 1.6%

NASDAQ CTMX opened at $3.70 on Tuesday. The firm's fifty day simple moving average is $3.51 and its two-hundred day simple moving average is $4.40. The firm has a market capitalization of $629.70 million, a P/E ratio of -9.02 and a beta of 2.08. CytomX Therapeutics has a 12-month low of $1.72 and a 12-month high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. The firm had revenue of $10.26 million during the quarter, compared to analyst estimates of $4.68 million. CytomX Therapeutics had a negative return on equity of 36.61% and a negative net margin of 166.40%. As a group, sell-side analysts predict that CytomX Therapeutics will post -0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in CytomX Therapeutics by 1,064.3% during the 1st quarter. Bank of America Corp DE now owns 10,202,785 shares of the biotechnology company's stock worth $47,953,000 after acquiring an additional 9,326,480 shares during the period. Perceptive Advisors LLC increased its holdings in shares of CytomX Therapeutics by 4.3% in the first quarter. Perceptive Advisors LLC now owns 10,098,824 shares of the biotechnology company's stock valued at $47,464,000 after purchasing an additional 418,639 shares during the period. Orbimed Advisors LLC purchased a new position in shares of CytomX Therapeutics in the second quarter worth about $19,208,000. Commodore Capital LP purchased a new position in shares of CytomX Therapeutics in the second quarter worth about $17,462,000. Finally, State Street Corp lifted its holdings in shares of CytomX Therapeutics by 697.1% during the fourth quarter. State Street Corp now owns 5,140,931 shares of the biotechnology company's stock worth $21,900,000 after purchasing an additional 4,495,949 shares during the period. 67.77% of the stock is owned by institutional investors and hedge funds.

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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