CytomX Therapeutics Inc (NASDAQ:CTMX) Receives Consensus Recommendation of “Buy” from Brokerages

CytomX Therapeutics Inc (NASDAQ:CTMX) has received an average recommendation of “Buy” from the thirteen research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $19.13.

A number of research analysts recently weighed in on CTMX shares. Zacks Investment Research lowered CytomX Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. Guggenheim initiated coverage on CytomX Therapeutics in a research report on Wednesday, November 27th. They issued a “buy” rating and a $16.00 target price for the company. BidaskClub downgraded CytomX Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 1st. Mizuho reissued a “buy” rating and set a $16.00 price target on shares of CytomX Therapeutics in a research report on Monday, August 12th. Finally, Nomura restated a “buy” rating and set a $22.00 price objective on shares of CytomX Therapeutics in a research note on Sunday, August 11th.

CytomX Therapeutics stock traded up $0.16 on Tuesday, hitting $6.29. 283,934 shares of the stock traded hands, compared to its average volume of 454,322. CytomX Therapeutics has a 1 year low of $5.10 and a 1 year high of $19.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 4.40 and a current ratio of 4.40. The business’s fifty day simple moving average is $6.17 and its 200 day simple moving average is $8.88.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.13). CytomX Therapeutics had a negative return on equity of 90.62% and a negative net margin of 163.18%. The business had revenue of $10.71 million during the quarter, compared to analysts’ expectations of $23.58 million. On average, equities analysts forecast that CytomX Therapeutics will post -1.96 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in CTMX. Bank of Montreal Can purchased a new position in CytomX Therapeutics during the second quarter valued at approximately $42,000. Aperio Group LLC acquired a new stake in CytomX Therapeutics during the 2nd quarter worth about $70,000. D.A. Davidson & CO. purchased a new stake in CytomX Therapeutics during the 2nd quarter valued at about $113,000. Man Group plc purchased a new stake in CytomX Therapeutics during the 3rd quarter valued at about $76,000. Finally, Metropolitan Life Insurance Co NY grew its stake in CytomX Therapeutics by 55.6% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 18,682 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 6,673 shares during the last quarter. Institutional investors and hedge funds own 78.89% of the company’s stock.

About CytomX Therapeutics

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.

Featured Story: How do analysts define an oversold condition?

Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

Receive News & Ratings for CytomX Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CytomX Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit