Q3 2017 EPS Estimates for CytomX Therapeutics, Inc. Cut by Analyst (CTMX)
CytomX Therapeutics, Inc. (NASDAQ:CTMX) – Investment analysts at Wedbush decreased their Q3 2017 EPS estimates for CytomX Therapeutics in a research note issued to investors on Wednesday. Wedbush analyst R. Driscoll now expects that the biotechnology company will post earnings per share of ($0.36) for the quarter, down from their previous estimate of ($0.30). Wedbush currently has a “Buy” rating and a $37.00 target price on the stock. Wedbush also issued estimates for CytomX Therapeutics’ Q4 2017 earnings at ($0.24) EPS, FY2017 earnings at ($1.51) EPS, FY2018 earnings at ($1.02) EPS, FY2019 earnings at ($1.53) EPS, FY2020 earnings at ($3.48) EPS and FY2021 earnings at ($2.31) EPS.
CytomX Therapeutics (NASDAQ:CTMX) last released its earnings results on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.30). The firm had revenue of $8.75 million for the quarter, compared to analyst estimates of $4.95 million. CytomX Therapeutics had a negative return on equity of 84.61% and a negative net margin of 206.33%. ILLEGAL ACTIVITY NOTICE: “Q3 2017 EPS Estimates for CytomX Therapeutics, Inc. Cut by Analyst (CTMX)” was reported by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this report can be read at https://www.americanbankingnews.com/2017/10/06/q3-2017-eps-estimates-for-cytomx-therapeutics-inc-cut-by-analyst-ctmx.html.
CTMX has been the topic of several other research reports. ValuEngine lowered CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, September 15th. Jefferies Group LLC set a $25.00 price target on CytomX Therapeutics and gave the company a “buy” rating in a research note on Friday, August 25th. Nomura upped their price target on CytomX Therapeutics to $44.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America Corporation increased their target price on CytomX Therapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BidaskClub raised CytomX Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. CytomX Therapeutics has a consensus rating of “Hold” and a consensus price target of $32.67.
CytomX Therapeutics (NASDAQ:CTMX) opened at 22.06 on Friday. CytomX Therapeutics has a 12-month low of $9.85 and a 12-month high of $24.67. The company’s 50-day moving average price is $17.15 and its 200-day moving average price is $15.67. The firm’s market capitalization is $813.29 million.
Large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new position in CytomX Therapeutics in the first quarter valued at about $313,000. Goldman Sachs Group Inc. acquired a new position in CytomX Therapeutics in the first quarter valued at about $190,000. EcoR1 Capital LLC acquired a new position in CytomX Therapeutics in the first quarter valued at about $13,729,000. KCG Holdings Inc. acquired a new position in CytomX Therapeutics in the first quarter valued at about $388,000. Finally, American Century Companies Inc. acquired a new position in CytomX Therapeutics in the second quarter valued at about $922,000. 59.97% of the stock is currently owned by hedge funds and other institutional investors.
In other CytomX Therapeutics news, major shareholder Robert I. Tepper sold 24,777 shares of the stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $24.34, for a total value of $603,072.18. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Debanjan Ray sold 2,500 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $15.00, for a total value of $37,500.00. Following the completion of the transaction, the chief financial officer now directly owns 19,626 shares in the company, valued at approximately $294,390. The disclosure for this sale can be found here. Insiders sold 100,306 shares of company stock worth $1,924,746 in the last three months. Insiders own 4.70% of the company’s stock.
CytomX Therapeutics Company Profile
CytomX Therapeutics, Inc is a clinical-stage, oncology-focused biopharmaceutical company. The Company uses its Probody technology platform to create cancer immunotherapies against clinically validated targets, as well as to develop cancer therapeutics against difficult-to-drug targets. Its pipeline is focused on the development of therapies in a set of modalities: Probody cancer immunotherapies, Probody drug conjugates, T-cell engaging Probody bispecifics and ProCAR-NK cell therapies.
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