CytomX Therapeutics (NASDAQ:CTMX) Price Target Raised to $12.00

CytomX Therapeutics (NASDAQ:CTMX) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $11.00 to $12.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 464.71% from the stock’s current price.

CTMX has been the topic of several other research reports. Zacks Research downgraded CytomX Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 19th. Guggenheim lowered their target price on CytomX Therapeutics from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Wedbush lifted their price target on CytomX Therapeutics from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. Cantor Fitzgerald restated an “overweight” rating on shares of CytomX Therapeutics in a research note on Tuesday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of CytomX Therapeutics in a report on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, CytomX Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $12.10.

CytomX Therapeutics Stock Performance

Shares of CTMX opened at $2.12 on Thursday. CytomX Therapeutics has a 52 week low of $1.90 and a 52 week high of $8.21. The firm has a market cap of $463.27 million, a P/E ratio of -4.25 and a beta of 2.23. The firm’s 50-day simple moving average is $2.63 and its 200 day simple moving average is $3.76.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Thursday, November 5th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $1.69 million during the quarter, compared to the consensus estimate of $10.38 million. CytomX Therapeutics had a negative net margin of 608.98% and a negative return on equity of 33.97%. As a group, equities analysts forecast that CytomX Therapeutics will post -0.39 earnings per share for the current year.

Institutional Trading of CytomX Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its position in shares of CytomX Therapeutics by 1,064.3% during the 1st quarter. Bank of America Corp DE now owns 10,202,785 shares of the biotechnology company’s stock worth $47,953,000 after purchasing an additional 9,326,480 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of CytomX Therapeutics during the second quarter worth approximately $531,000. Wellington Management Group LLP increased its holdings in shares of CytomX Therapeutics by 44.3% during the second quarter. Wellington Management Group LLP now owns 5,168,961 shares of the biotechnology company’s stock worth $19,384,000 after purchasing an additional 1,585,976 shares during the period. Stonepine Capital Management LLC bought a new position in shares of CytomX Therapeutics during the second quarter worth approximately $768,750. Finally, BlackRock Inc. acquired a new stake in shares of CytomX Therapeutics in the second quarter valued at approximately $65,849,000. Institutional investors and hedge funds own 67.77% of the company’s stock.

CytomX Therapeutics Company Profile

CytomX Therapeutics is a clinical-stage biopharmaceutical company focused on developing cancer treatments. Founded in 2008 and headquartered in South San Francisco, California, the company researches therapies designed to target tumors while limiting activity in healthy tissues. Its Probody platform uses molecular masks intended to keep therapeutic antibodies inactive until they encounter enzymes associated with the tumor environment. CytomX applies this approach to investigational medicines, including antibody-drug conjugates and immune-cell-engaging therapies.