CytomX Therapeutics, Inc. (NASDAQ:CTMX) Receives $5.77 Average Target Price from Brokerages

Shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $5.77.

A number of brokerages have recently issued reports on CTMX. Wedbush raised shares of CytomX Therapeutics from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $3.00 to $8.00 in a research note on Thursday, May 9th. JPMorgan Chase & Co. raised CytomX Therapeutics from an “underweight” rating to a “neutral” rating in a report on Monday, April 22nd. Jefferies Financial Group raised shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the company from $2.50 to $8.00 in a research note on Monday, May 6th. BMO Capital Markets boosted their target price on CytomX Therapeutics from $3.25 to $3.59 and gave the stock a “market perform” rating in a research report on Thursday, May 9th. Finally, HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a report on Thursday.

Hedge Funds Weigh In On CytomX Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC increased its stake in CytomX Therapeutics by 1.7% in the 1st quarter. Acadian Asset Management LLC now owns 2,690,830 shares of the biotechnology company’s stock worth $5,863,000 after buying an additional 44,640 shares during the period. Congress Park Capital LLC raised its holdings in CytomX Therapeutics by 112.8% in the fourth quarter. Congress Park Capital LLC now owns 239,300 shares of the biotechnology company’s stock worth $371,000 after purchasing an additional 126,850 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of CytomX Therapeutics in the 1st quarter worth approximately $124,000. SG Americas Securities LLC bought a new position in shares of CytomX Therapeutics during the 1st quarter worth approximately $57,000. Finally, AlphaMark Advisors LLC lifted its position in CytomX Therapeutics by 119.8% during the fourth quarter. AlphaMark Advisors LLC now owns 23,183 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 12,635 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

CytomX Therapeutics Price Performance

NASDAQ:CTMX opened at $1.22 on Friday. The firm has a market capitalization of $95.06 million, a price-to-earnings ratio of 6.10 and a beta of 1.14. The business has a fifty day moving average price of $1.97 and a 200-day moving average price of $1.87. CytomX Therapeutics has a one year low of $1.04 and a one year high of $5.85.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Wednesday, May 8th. The biotechnology company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.23. The company had revenue of $41.46 million during the quarter, compared to the consensus estimate of $23.40 million. CytomX Therapeutics had a negative return on equity of 30.70% and a net margin of 13.87%. On average, equities research analysts expect that CytomX Therapeutics will post -0.14 earnings per share for the current fiscal year.

About CytomX Therapeutics

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.