CytomX Therapeutics’ (CTMX) “Buy” Rating Reaffirmed at Cowen

Cowen restated their buy rating on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research note issued to investors on Wednesday morning, TipRanks reports.

Other equities research analysts have also recently issued reports about the company. Cantor Fitzgerald reissued an overweight rating and issued a $23.00 target price (up from $21.00) on shares of CytomX Therapeutics in a research note on Monday, June 3rd. BidaskClub cut CytomX Therapeutics from a buy rating to a hold rating in a research note on Wednesday, July 24th. Nomura lowered their price target on CytomX Therapeutics to $22.00 in a report on Monday, May 13th. ValuEngine raised CytomX Therapeutics from a sell rating to a hold rating in a report on Thursday, August 1st. Finally, Mizuho reaffirmed a buy rating and set a $16.00 price target on shares of CytomX Therapeutics in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $20.22.

Shares of NASDAQ CTMX traded down $0.84 during trading on Wednesday, reaching $10.15. The company had a trading volume of 367,884 shares, compared to its average volume of 300,876. CytomX Therapeutics has a 12-month low of $8.94 and a 12-month high of $25.34. The stock has a market cap of $497.97 million, a PE ratio of -5.00 and a beta of 0.63. The business’s 50-day moving average is $10.97. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.21 and a current ratio of 4.66.

CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.09). CytomX Therapeutics had a negative return on equity of 77.05% and a negative net margin of 158.05%. The company had revenue of $9.01 million during the quarter, compared to analysts’ expectations of $15.11 million. Research analysts forecast that CytomX Therapeutics will post -2.06 EPS for the current year.

Large investors have recently made changes to their positions in the company. Bank of Montreal Can bought a new position in shares of CytomX Therapeutics during the second quarter valued at $42,000. Aperio Group LLC bought a new position in CytomX Therapeutics in the second quarter valued at about $70,000. Legal & General Group Plc lifted its holdings in CytomX Therapeutics by 18.6% in the fourth quarter. Legal & General Group Plc now owns 8,342 shares of the biotechnology company’s stock valued at $126,000 after acquiring an additional 1,306 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in CytomX Therapeutics by 84,072.7% in the first quarter. BNP Paribas Arbitrage SA now owns 9,259 shares of the biotechnology company’s stock valued at $100,000 after acquiring an additional 9,248 shares during the period. Finally, Deltec Asset Management LLC bought a new position in CytomX Therapeutics in the first quarter valued at about $129,000. 81.77% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for CytomX Therapeutics (NASDAQ:CTMX)

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