CytomX Therapeutics (NASDAQ:CTMX) Now Covered by Oppenheimer

Key Points

• Oppenheimer initiated coverage of CytomX Therapeutics with an "outperform" rating and a price target of $7.00, indicating a potential upside of 201.72% from the current stock price.
• Multiple brokerages have recently rated CytomX Therapeutics as a "buy," with a current consensus price target of $5.75.
• CytomX Therapeutics reported earnings of $0.27 per share for the last quarter, exceeding analysts' expectations and indicating a strong revenue of $50.92 million.

Oppenheimer started coverage on shares of CytomX Therapeutics (NASDAQ:CTMX - Free Report) in a report issued on Thursday, MarketBeat reports. The brokerage issued an outperform rating and a $7.00 target price on the biotechnology company's stock.

Several other equities analysts have also commented on CTMX. Wall Street Zen raised shares of CytomX Therapeutics from a "hold" rating to a "buy" rating in a research report on Tuesday, May 13th. Piper Sandler upped their price target on shares of CytomX Therapeutics from $2.50 to $5.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. HC Wainwright raised shares of CytomX Therapeutics from a "neutral" rating to a "buy" rating and set a $5.00 price objective for the company in a research report on Thursday, May 15th. Finally, Wedbush reissued an "outperform" rating and issued a $6.00 price objective (up previously from $5.00) on shares of CytomX Therapeutics in a research report on Monday, May 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $5.75.

CytomX Therapeutics Price Performance

CTMX stock traded up $0.16 on Thursday, hitting $2.35. 1,447,220 shares of the company were exchanged, compared to its average volume of 1,405,056. CytomX Therapeutics has a twelve month low of $0.40 and a twelve month high of $3.10. The business's fifty day moving average is $2.41 and its two-hundred day moving average is $1.40. The stock has a market capitalization of $189.46 million, a price-to-earnings ratio of 4.90 and a beta of 2.13.

CytomX Therapeutics (NASDAQ:CTMX - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The biotechnology company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.18 by $0.09. CytomX Therapeutics had a net margin of 28.22% and a negative return on equity of 553.71%. The firm had revenue of $50.92 million during the quarter, compared to analyst estimates of $35.42 million. During the same quarter in the prior year, the business posted $0.17 earnings per share. Equities research analysts expect that CytomX Therapeutics will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On CytomX Therapeutics

Several large investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC grew its holdings in CytomX Therapeutics by 63.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 28,966 shares of the biotechnology company's stock valued at $66,000 after purchasing an additional 11,258 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in CytomX Therapeutics by 1.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 720,020 shares of the biotechnology company's stock valued at $1,634,000 after purchasing an additional 8,566 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in CytomX Therapeutics during the 1st quarter valued at $39,000. Acadian Asset Management LLC grew its holdings in CytomX Therapeutics by 3.1% during the 1st quarter. Acadian Asset Management LLC now owns 3,234,035 shares of the biotechnology company's stock valued at $2,053,000 after purchasing an additional 96,989 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in CytomX Therapeutics during the 1st quarter valued at $1,054,000. Institutional investors and hedge funds own 67.77% of the company's stock.

About CytomX Therapeutics

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.