Brokerages Expect CytomX Therapeutics Inc (NASDAQ:CTMX) Will Announce Quarterly Sales of $15.11 Million

Wall Street brokerages expect that CytomX Therapeutics Inc (NASDAQ:CTMX) will report sales of $15.11 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for CytomX Therapeutics’ earnings, with the lowest sales estimate coming in at $8.00 million and the highest estimate coming in at $24.47 million. CytomX Therapeutics reported sales of $21.34 million in the same quarter last year, which indicates a negative year over year growth rate of 29.2%. The firm is expected to announce its next quarterly earnings results on Wednesday, August 14th.

On average, analysts expect that CytomX Therapeutics will report full year sales of $69.46 million for the current year, with estimates ranging from $53.50 million to $90.48 million. For the next fiscal year, analysts anticipate that the firm will post sales of $51.61 million, with estimates ranging from $32.52 million to $61.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for CytomX Therapeutics.

CytomX Therapeutics (NASDAQ:CTMX) last posted its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.31) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.53) by $0.22. The firm had revenue of $29.49 million during the quarter, compared to analyst estimates of $13.59 million. CytomX Therapeutics had a negative net margin of 111.27% and a negative return on equity of 73.62%.

Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. BidaskClub raised shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Mizuho initiated coverage on shares of CytomX Therapeutics in a report on Wednesday. They issued a “buy” rating and a $16.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 price objective (up from $21.00) on shares of CytomX Therapeutics in a report on Monday, June 3rd. Finally, HC Wainwright set a $34.00 price objective on shares of CytomX Therapeutics and gave the stock a “buy” rating in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $20.72.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CTMX. Wellington Management Group LLP boosted its holdings in CytomX Therapeutics by 23.2% in the 1st quarter. Wellington Management Group LLP now owns 3,297,775 shares of the biotechnology company’s stock valued at $35,451,000 after purchasing an additional 620,117 shares during the period. Perceptive Advisors LLC boosted its holdings in CytomX Therapeutics by 9.0% in the 1st quarter. Perceptive Advisors LLC now owns 3,173,923 shares of the biotechnology company’s stock valued at $34,120,000 after purchasing an additional 262,208 shares during the period. Victory Capital Management Inc. boosted its holdings in CytomX Therapeutics by 79.9% in the 1st quarter. Victory Capital Management Inc. now owns 1,655,530 shares of the biotechnology company’s stock valued at $17,797,000 after purchasing an additional 735,320 shares during the period. BVF Inc. IL bought a new position in CytomX Therapeutics in the 1st quarter valued at $12,879,000. Finally, RTW Investments LP bought a new position in CytomX Therapeutics in the 4th quarter valued at $13,720,000. 81.83% of the stock is owned by institutional investors.

NASDAQ:CTMX traded up $0.17 on Monday, hitting $10.40. The stock had a trading volume of 300,960 shares, compared to its average volume of 300,958. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.21 and a current ratio of 4.21. The firm has a market cap of $471.22 million, a price-to-earnings ratio of -5.12 and a beta of 0.51. CytomX Therapeutics has a 1 year low of $8.94 and a 1 year high of $27.20.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 immuno-oncology target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel drug target; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.

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