CytRx Corporation (NASDAQ:CYTR) Lifted to “Hold” at ValuEngine
CytRx Corporation (NASDAQ:CYTR) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday.
Separately, HC Wainwright reissued a “buy” rating and issued a $4.00 price target on shares of CytRx Corporation in a research note on Wednesday, April 26th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. CytRx Corporation has an average rating of “Buy” and an average price target of $2.50.
Shares of CytRx Corporation (NASDAQ CYTR) traded up 43.61% on Friday, reaching $0.82. 53,239,888 shares of the company traded hands. The firm’s 50 day moving average is $0.62 and its 200 day moving average is $0.52. CytRx Corporation has a one year low of $0.36 and a one year high of $0.99. The company’s market capitalization is $124.68 million.
CytRx Corporation (NASDAQ:CYTR) last issued its quarterly earnings results on Wednesday, May 10th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter. Analysts expect that CytRx Corporation will post ($0.50) earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in CytRx Corporation during the first quarter valued at approximately $264,000. Hudson Bay Capital Management LP purchased a new stake in CytRx Corporation during the fourth quarter valued at approximately $110,000. Finally, SG Americas Securities LLC purchased a new stake in CytRx Corporation during the first quarter valued at approximately $102,000. 11.42% of the stock is currently owned by hedge funds and other institutional investors.
About CytRx Corporation
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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