Brokerages Expect CytRx Co. (CYTR) Will Post Earnings of -$0.06 Per Share

Equities analysts expect CytRx Co. (NASDAQ:CYTR) to post ($0.06) earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for CytRx’s earnings. CytRx posted earnings of ($0.10) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 40%. The business is expected to announce its next quarterly earnings results on Monday, August 5th.

According to Zacks, analysts expect that CytRx will report full-year earnings of ($0.24) per share for the current year. For the next year, analysts expect that the firm will post earnings of ($0.30) per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for CytRx.

CytRx (NASDAQ:CYTR) last posted its quarterly earnings data on Wednesday, May 15th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01.

Separately, HC Wainwright set a $5.00 target price on shares of CytRx and gave the company a “buy” rating in a research report on Tuesday, February 5th.

Several hedge funds and other institutional investors have recently modified their holdings of CYTR. Renaissance Technologies LLC increased its position in CytRx by 61.1% during the first quarter. Renaissance Technologies LLC now owns 626,144 shares of the biotechnology company’s stock worth $413,000 after purchasing an additional 237,391 shares during the last quarter. Virtu Financial LLC increased its position in CytRx by 327.0% during the fourth quarter. Virtu Financial LLC now owns 90,678 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 69,444 shares during the last quarter. Finally, Deutsche Bank AG increased its position in CytRx by 1,076,287.5% during the fourth quarter. Deutsche Bank AG now owns 86,111 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 86,103 shares during the last quarter. Institutional investors and hedge funds own 9.84% of the company’s stock.

Shares of NASDAQ CYTR traded up $0.05 during mid-day trading on Thursday, reaching $0.57. The company’s stock had a trading volume of 663,487 shares, compared to its average volume of 155,241. The stock has a market capitalization of $17.50 million, a price-to-earnings ratio of -1.97 and a beta of 2.13. CytRx has a 1-year low of $0.33 and a 1-year high of $1.38.

CytRx Company Profile

CytRx Corporation, a biopharmaceutical company, engages in the research and clinical development of novel anti-cancer drug candidates that employ linker technologies to enhance the accumulation and release of drug at the tumor. The company is developing its pipeline of oncology candidates at its laboratory facilities in Freiburg, Germany, through its LADR (linker activated drug release) technology platform, a discovery engine designed to leverage its expertise in albumin biology and linker technology for the development of anti-cancer therapies.

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Earnings History and Estimates for CytRx (NASDAQ:CYTR)

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