CytomX Therapeutics (NASDAQ:CTMX) Announces Earnings Results

CytomX Therapeutics (NASDAQ:CTMX) announced its earnings results on Monday. The biotechnology company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09, Zacks reports. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%. The firm had revenue of $50.92 million for the quarter, compared to analyst estimates of $35.42 million. During the same quarter last year, the firm posted $0.17 EPS.

CytomX Therapeutics Price Performance

CytomX Therapeutics stock traded up $0.95 during midday trading on Monday, hitting $1.88. 87,490,158 shares of the company were exchanged, compared to its average volume of 2,882,044. The company’s fifty day moving average price is $0.66 and its 200-day moving average price is $0.85. The company has a market cap of $151.41 million, a PE ratio of 10.74 and a beta of 1.11. CytomX Therapeutics has a fifty-two week low of $0.40 and a fifty-two week high of $2.18.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CTMX. Wedbush restated an “outperform” rating and set a $5.00 target price on shares of CytomX Therapeutics in a report on Friday, March 7th. HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a research report on Friday, March 7th. Piper Sandler assumed coverage on CytomX Therapeutics in a research note on Monday, April 14th. They set an “overweight” rating and a $2.50 price objective on the stock. Finally, StockNews.com began coverage on CytomX Therapeutics in a report on Tuesday, April 15th. They set a “hold” rating for the company.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.