CytomX Therapeutics (NASDAQ:CTMX) Upgraded at Zacks Investment Research

CytomX Therapeutics (NASDAQ:CTMX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage presently has a $8.25 price target on the biotechnology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 15.79% from the company’s previous close.

According to Zacks, “CytomX Therapeutics, Inc. is an oncology focused biopharmaceutical company. The Company is engaged in developing Probody(TM) therapeutics for the treatment of cancer. Its pipeline focuses areas consist of Precision cancer immunotherapy and Probody drug conjugates. CytomX Therapeutics, Inc. is headquartered in South San Francisco, California. “

A number of other equities analysts have also recently commented on CTMX. Mizuho began coverage on shares of CytomX Therapeutics in a research report on Thursday, December 19th. They set a “buy” rating and a $16.00 price objective for the company. BidaskClub raised shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. ValuEngine raised shares of CytomX Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. Guggenheim began coverage on shares of CytomX Therapeutics in a research report on Wednesday, November 27th. They set a “buy” rating and a $16.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 price objective on shares of CytomX Therapeutics in a research report on Monday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. CytomX Therapeutics has a consensus rating of “Buy” and a consensus price target of $15.69.

CTMX stock traded down $0.13 during midday trading on Thursday, reaching $7.13. 291,290 shares of the company were exchanged, compared to its average volume of 382,444. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.40 and a quick ratio of 4.40. The business has a 50-day moving average price of $7.40 and a two-hundred day moving average price of $7.55. CytomX Therapeutics has a one year low of $5.10 and a one year high of $12.63. The firm has a market capitalization of $323.69 million, a price-to-earnings ratio of -3.25 and a beta of 0.77.

Hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new position in CytomX Therapeutics in the fourth quarter valued at about $28,000. Tower Research Capital LLC TRC raised its stake in CytomX Therapeutics by 133.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,856 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 2,202 shares in the last quarter. Bank of Montreal Can raised its stake in CytomX Therapeutics by 42.5% in the fourth quarter. Bank of Montreal Can now owns 5,630 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 1,680 shares in the last quarter. Man Group plc acquired a new position in CytomX Therapeutics in the third quarter valued at about $76,000. Finally, Cubist Systematic Strategies LLC acquired a new position in CytomX Therapeutics in the fourth quarter valued at about $113,000. 79.24% of the stock is owned by institutional investors and hedge funds.

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.

See Also: Compound Annual Growth Rate (CAGR)

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