Wedbush Reaffirms “Outperform” Rating for CytomX Therapeutics (NASDAQ:CTMX)

CytomX Therapeutics (NASDAQ:CTMX)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a report issued on Friday,RTT News reports. They presently have a $6.00 price target on the biotechnology company’s stock. Wedbush’s price target would indicate a potential upside of 65.75% from the company’s current price.

Several other equities research analysts also recently weighed in on CTMX. Barclays upped their price objective on shares of CytomX Therapeutics from $3.50 to $6.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Cantor Fitzgerald initiated coverage on shares of CytomX Therapeutics in a research report on Monday, September 22nd. They issued an “overweight” rating and a $6.00 target price on the stock. Oppenheimer began coverage on CytomX Therapeutics in a research note on Thursday, July 31st. They issued an “outperform” rating and a $7.00 price objective for the company. Finally, Weiss Ratings upgraded shares of CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.83.

CytomX Therapeutics Stock Down 13.6%

CTMX opened at $3.62 on Friday. The firm has a market cap of $596.99 million, a price-to-earnings ratio of 6.46 and a beta of 2.29. The company’s 50-day moving average price is $2.95 and its 200 day moving average price is $2.39. CytomX Therapeutics has a fifty-two week low of $0.40 and a fifty-two week high of $4.62.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.05). CytomX Therapeutics had a return on equity of 158.70% and a net margin of 34.04%.The company had revenue of $5.96 million during the quarter, compared to the consensus estimate of $11.50 million. Research analysts anticipate that CytomX Therapeutics will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On CytomX Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of CTMX. Orbimed Advisors LLC acquired a new stake in shares of CytomX Therapeutics in the 2nd quarter valued at $19,208,000. Commodore Capital LP acquired a new position in CytomX Therapeutics in the second quarter valued at approximately $17,462,000. Perceptive Advisors LLC bought a new position in shares of CytomX Therapeutics in the 2nd quarter worth $15,876,000. Franklin Resources Inc. bought a new position in CytomX Therapeutics during the second quarter worth about $13,096,000. Finally, Vivo Capital LLC acquired a new position in CytomX Therapeutics during the second quarter valued at approximately $13,096,000. Institutional investors own 67.77% of the company’s stock.

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.