Analysts expect CytomX Therapeutics, Inc. (NASDAQ:CTMX) to post $16.60 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for CytomX Therapeutics’ earnings. The highest sales estimate is $23.30 million and the lowest is $11.50 million. CytomX Therapeutics posted sales of $3.45 million during the same quarter last year, which suggests a positive year-over-year growth rate of 381.2%. The business is scheduled to report its next quarterly earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that CytomX Therapeutics will report full-year sales of $16.60 million for the current financial year, with estimates ranging from $36.00 million to $53.10 million. For the next fiscal year, analysts anticipate that the business will report sales of $72.87 million per share, with estimates ranging from $40.00 million to $104.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow CytomX Therapeutics.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.30). CytomX Therapeutics had a negative net margin of 206.33% and a negative return on equity of 84.61%. The company had revenue of $8.75 million for the quarter, compared to analyst estimates of $4.95 million.

A number of brokerages have recently issued reports on CTMX. BidaskClub cut CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Cann reissued a “hold” rating on shares of CytomX Therapeutics in a report on Tuesday, August 8th. Cowen and Company reissued a “buy” rating on shares of CytomX Therapeutics in a report on Wednesday, June 28th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of CytomX Therapeutics in a report on Wednesday, October 4th. Finally, Wedbush set a $37.00 target price on CytomX Therapeutics and gave the stock a “buy” rating in a report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.43.

ILLEGAL ACTIVITY WARNING: This piece of content was first reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another domain, it was illegally copied and reposted in violation of United States & international copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/10/22/cytomx-therapeutics-inc-ctmx-expected-to-announce-quarterly-sales-of-16-60-million.html.

CytomX Therapeutics (CTMX) opened at 20.16 on Friday. The firm’s market cap is $743.24 million. The company’s 50-day moving average price is $18.88 and its 200-day moving average price is $15.92. CytomX Therapeutics has a 52-week low of $9.85 and a 52-week high of $24.67.

In related news, major shareholder Robert I. Tepper sold 24,777 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $24.34, for a total transaction of $603,072.18. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William Michael Kavanaugh sold 48,368 shares of the stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $24.34, for a total value of $1,177,277.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,794 shares of company stock worth $3,806,089. 4.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position in CytomX Therapeutics by 28.6% during the 2nd quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock worth $101,000 after acquiring an additional 1,434 shares during the last quarter. First Quadrant L P CA bought a new stake in CytomX Therapeutics during the 2nd quarter worth approximately $160,000. Cubist Systematic Strategies LLC bought a new stake in CytomX Therapeutics during the 2nd quarter worth approximately $174,000. Goldman Sachs Group Inc. bought a new stake in CytomX Therapeutics during the 1st quarter worth approximately $190,000. Finally, Voya Investment Management LLC bought a new stake in CytomX Therapeutics during the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 59.97% 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.

Get a free copy of the Zacks research report on CytomX Therapeutics (CTMX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CytomX Therapeutics (NASDAQ:CTMX)

Receive News & Ratings for CytomX Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CytomX Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.