Cantor Fitzgerald began coverage on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research note released on Monday morning, AnalystRatings.com reports. The brokerage issued an overweight rating and a $21.00 target price on the biotechnology company’s stock.
“: We are initiating coverage of Overweight rating and 12-month price target of $21/share. CytomX stock currently trades at an EV of ~$100M ($8.80/sh cash), and the shares are down about 27% YTD (vs. +8.5% for NBI), triggered by updates at its R&D day earlier this year. We believe that the company’s lead early-stage clinical assets, based on modified antibodies, are partially de-risked and are highly discounted at the current valuation. For CX-2009, we think that evolving clinical updates in the next 6-12 months should alleviate investor concerns about its safety profile and that risk of potential clinical setback is overstated.”,” the firm’s analyst commented.
A number of other brokerages also recently weighed in on CTMX. BidaskClub downgraded CytomX Therapeutics from a hold rating to a sell rating in a research report on Friday, March 29th. Wedbush decreased their target price on CytomX Therapeutics from $35.00 to $25.00 and set an outperform rating on the stock in a research report on Wednesday, February 27th. Zacks Investment Research downgraded CytomX Therapeutics from a hold rating to a sell rating in a research report on Tuesday, April 30th. SunTrust Banks decreased their target price on CytomX Therapeutics to $18.00 and set a buy rating on the stock in a research report on Thursday, February 28th. Finally, ValuEngine downgraded CytomX Therapeutics from a hold rating to a sell rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $21.03.
CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.22. The firm had revenue of $29.49 million for the quarter, compared to the consensus estimate of $13.59 million. CytomX Therapeutics had a negative return on equity of 73.62% and a negative net margin of 111.27%. On average, analysts anticipate that CytomX Therapeutics will post -2.17 earnings per share for the current fiscal year.
In other news, General Counsel Lloyd A. Rowland bought 9,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were bought at an average price of $10.33 per share, with a total value of $92,970.00. Following the completion of the transaction, the general counsel now owns 9,979 shares of the company’s stock, valued at $103,083.07. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Legal & General Group Plc grew its position in shares of CytomX Therapeutics by 15.3% in the third quarter. Legal & General Group Plc now owns 7,036 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 934 shares during the last quarter. Virtus ETF Advisers LLC grew its position in CytomX Therapeutics by 8.3% during the fourth quarter. Virtus ETF Advisers LLC now owns 20,415 shares of the biotechnology company’s stock worth $308,000 after buying an additional 1,565 shares in the last quarter. Wedbush Securities Inc. grew its position in CytomX Therapeutics by 8.1% during the fourth quarter. Wedbush Securities Inc. now owns 25,355 shares of the biotechnology company’s stock worth $383,000 after buying an additional 1,900 shares in the last quarter. Northern Trust Corp grew its position in CytomX Therapeutics by 0.4% during the first quarter. Northern Trust Corp now owns 542,020 shares of the biotechnology company’s stock worth $5,827,000 after buying an additional 2,031 shares in the last quarter. Finally, Swiss National Bank grew its position in CytomX Therapeutics by 3.2% during the first quarter. Swiss National Bank now owns 77,900 shares of the biotechnology company’s stock worth $837,000 after buying an additional 2,400 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors.
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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