CytRx Corp. (CYTR) Given a $3.00 Price Target by FBR & Co Analysts
CytRx Corp. (NASDAQ:CYTR) has been given a $3.00 price objective by research analysts at FBR & Co in a research report issued to clients and investors on Monday. The brokerage currently has a a “buy” rating on the stock. FBR & Co’s target price would suggest a potential upside of 473.50% from the stock’s current price.
Several other equities analysts have also weighed in on CYTR. Jefferies Group reiterated a “hold” rating and set a $0.75 price objective (down previously from $2.50) on shares of CytRx Corp. in a report on Friday, July 15th. Zacks Investment Research lowered shares of CytRx Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Finally, S&P Equity Research dropped their price objective on shares of CytRx Corp. from $1.04 to $0.75 in a report on Tuesday, July 12th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $5.32.
Shares of CytRx Corp. (NASDAQ:CYTR) traded down 3.8234% during mid-day trading on Monday, reaching $0.5031. The company had a trading volume of 481,385 shares. CytRx Corp. has a one year low of $0.50 and a one year high of $3.66. The firm’s market capitalization is $48.77 million. The stock has a 50 day moving average of $0.57 and a 200-day moving average of $1.73.
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CytRx Corp. (NASDAQ:CYTR) last released its earnings results on Friday, July 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by $0.08. Equities analysts predict that CytRx Corp. will post ($0.71) EPS for the current year.
Several large investors have recently bought and sold shares of CYTR. Highbridge Capital Management LLC acquired a new stake in CytRx Corp. during the second quarter valued at approximately $199,000. State Street Corp increased its stake in CytRx Corp. by 1.4% in the second quarter. State Street Corp now owns 945,779 shares of the company’s stock valued at $2,106,000 after buying an additional 12,877 shares during the last quarter. Rhumbline Advisers increased its stake in shares of CytRx Corp. by 38.4% in the second quarter. Rhumbline Advisers now owns 88,419 shares of the company’s stock worth $197,000 after buying an additional 24,525 shares during the last quarter. Teachers Advisors Inc. increased its stake in shares of CytRx Corp. by 11.4% in the second quarter. Teachers Advisors Inc. now owns 107,636 shares of the company’s stock worth $240,000 after buying an additional 11,030 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of CytRx Corp. by 1.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,653,383 shares of the company’s stock worth $3,687,000 after buying an additional 19,859 shares during the last quarter. 19.60% of the stock is owned by institutional investors.
CytRx Corp. Company Profile
CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. The Company is focused on the clinical development of aldoxorubicin, its modified version of the chemotherapeutic agent, doxorubicin. It is engaged in Phase III trials for aldoxorubicin as a therapy for patients with soft tissue sarcoma (STS) whose tumors have progressed after treatment with chemotherapy.
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