Zacks: Analysts Anticipate CytRx Co. (CYTR) Will Post Earnings of -$0.07 Per Share

Wall Street analysts expect CytRx Co. (NASDAQ:CYTR) to post ($0.07) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for CytRx’s earnings. CytRx reported earnings of ($0.16) per share during the same quarter last year, which would suggest a positive year over year growth rate of 56.3%. The business is scheduled to issue its next earnings results on Monday, March 18th.

On average, analysts expect that CytRx will report full year earnings of ($0.41) per share for the current financial year. For the next financial year, analysts forecast that the firm will report earnings of ($0.24) per share. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow CytRx.

CytRx (NASDAQ:CYTR) last issued its earnings results on Friday, November 9th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). The company had revenue of $0.25 million for the quarter.

CYTR has been the topic of a number of research reports. Zacks Investment Research upgraded shares of CytRx from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a report on Wednesday, November 7th. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of CytRx in a research note on Monday, November 5th.

CYTR traded up $0.01 during trading on Thursday, hitting $0.59. The company’s stock had a trading volume of 91,503 shares, compared to its average volume of 247,552. The company has a market capitalization of $19.79 million, a PE ratio of -0.39 and a beta of 2.24. CytRx has a one year low of $0.57 and a one year high of $2.35.

A hedge fund recently raised its stake in CytRx stock. BlackRock Inc. grew its holdings in CytRx Co. (NASDAQ:CYTR) by 31.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 302,983 shares of the biotechnology company’s stock after acquiring an additional 72,879 shares during the period. BlackRock Inc. owned about 0.90% of CytRx worth $343,000 at the end of the most recent quarter. Institutional investors and hedge funds own 10.16% of the company’s stock.

CytRx Company Profile

CytRx Corporation, a biopharmaceutical company, engages in the research and clinical development of novel anti-cancer drug candidates that employ linker technologies to enhance the accumulation and release of drug at the tumor. The company is developing its pipeline of oncology candidates at its laboratory facilities in Freiburg, Germany, through its LADR (linker activated drug release) technology platform, a discovery engine designed to leverage its expertise in albumin biology and linker technology for the development of anti-cancer therapies.

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