Analysts Set Expectations for CytomX Therapeutics, Inc.’s FY2017 Earnings (CTMX)
CytomX Therapeutics, Inc. (NASDAQ:CTMX) – Analysts at Cantor Fitzgerald issued their FY2017 EPS estimates for CytomX Therapeutics in a research report issued to clients and investors on Tuesday. Cantor Fitzgerald analyst M. Goldstein anticipates that the biotechnology company will post earnings per share of ($1.57) for the year. Cantor Fitzgerald has a “Overweight” rating and a $35.00 price objective on the stock. Cantor Fitzgerald also issued estimates for CytomX Therapeutics’ FY2018 earnings at ($1.56) EPS.
CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Monday, August 7th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.30). The company had revenue of $8.75 million during the quarter, compared to analysts’ expectations of $4.95 million. CytomX Therapeutics had a negative net margin of 206.33% and a negative return on equity of 84.61%.
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Several other brokerages also recently weighed in on CTMX. Cowen and Company reaffirmed an “outperform” rating on shares of CytomX Therapeutics in a research report on Thursday, October 5th. Zacks Investment Research raised CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Monday, October 16th. Bank of America Corporation increased their price target on CytomX Therapeutics from $30.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Wedbush set a $37.00 price target on CytomX Therapeutics and gave the company a “buy” rating in a report on Wednesday, October 4th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of CytomX Therapeutics in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $31.88.
CytomX Therapeutics (CTMX) opened at 19.70 on Thursday. CytomX Therapeutics has a 52 week low of $9.85 and a 52 week high of $24.67. The stock’s market cap is $726.28 million. The stock has a 50 day moving average price of $19.07 and a 200 day moving average price of $15.98.
In other CytomX Therapeutics news, major shareholder Robert I. Tepper sold 24,777 shares of the company’s 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Debanjan Ray sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $15.00, for a total value of $37,500.00. Following the sale, the chief financial officer now owns 19,626 shares in the company, valued at approximately $294,390. The disclosure for this sale can be found here. Insiders sold 177,794 shares of company stock valued at $3,806,089 in the last three months. 8.00% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CTMX. Wells Fargo & Company MN raised its stake in CytomX Therapeutics by 52.8% during the first quarter. Wells Fargo & Company MN now owns 22,424 shares of the biotechnology company’s stock valued at $387,000 after buying an additional 7,747 shares in the last quarter. Swiss National Bank raised its stake in CytomX Therapeutics by 19.1% during the first quarter. Swiss National Bank now owns 26,800 shares of the biotechnology company’s stock valued at $463,000 after buying an additional 4,300 shares in the last quarter. JPMorgan Chase & Co. raised its stake in CytomX Therapeutics by 551.5% during the first quarter. JPMorgan Chase & Co. now owns 185,778 shares of the biotechnology company’s stock valued at $3,208,000 after buying an additional 157,261 shares in the last quarter. Prudential Financial Inc. acquired a new stake in CytomX Therapeutics during the first quarter valued at approximately $485,000. Finally, American International Group Inc. raised its stake in CytomX Therapeutics by 7.1% during the first quarter. American International Group Inc. now owns 12,580 shares of the biotechnology company’s stock valued at $217,000 after buying an additional 834 shares in the last quarter. Hedge funds and other institutional investors own 60.04% 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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