HC Wainwright reiterated their buy rating on shares of CytomX Therapeutics (NASDAQ:CTMX) in a research report released on Wednesday, April 3rd, AnalystRatings.com reports. HC Wainwright currently has a $34.00 target price on the biotechnology company’s stock.
“We utilize a probability of approval of 70% for we employ a 10% discount rate, and a 29% effective tax rate, yielding a total value of $1.6B, or a price per share of $34, assuming 47.6M shares outstanding and roughly $329M in cash and equivalents as of end-4Q19.”,” the firm’s analyst wrote.
CTMX has been the topic of several other research reports. ValuEngine upgraded CytomX Therapeutics from a sell rating to a hold rating in a report on Monday, April 1st. BidaskClub upgraded CytomX Therapeutics from a sell rating to a hold rating in a report on Thursday, March 21st. Wedbush decreased their price objective on CytomX Therapeutics from $35.00 to $25.00 and set an outperform rating on the stock in a report on Wednesday, February 27th. Barclays began coverage on CytomX Therapeutics in a report on Monday, March 11th. They set an overweight rating and a $16.00 price objective on the stock. Finally, Zacks Investment Research upgraded CytomX Therapeutics from a hold rating to a buy rating and set a $19.00 price objective on the stock in a report on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. CytomX Therapeutics currently has a consensus rating of Buy and an average price target of $23.28.
CytomX Therapeutics (NASDAQ:CTMX) last announced its earnings results on Wednesday, February 27th. The biotechnology company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.23). The company had revenue of $11.47 million for the quarter, compared to analyst estimates of $13.48 million. CytomX Therapeutics had a negative net margin of 142.19% and a negative return on equity of 89.22%. As a group, equities analysts anticipate that CytomX Therapeutics will post -2.18 EPS for the current year.
In other news, General Counsel Lloyd A. Rowland bought 9,000 shares of CytomX Therapeutics stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average price of $10.33 per share, for a total transaction of $92,970.00. Following the completion of the acquisition, the general counsel now owns 9,979 shares of the company’s stock, valued at $103,083.07. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of CTMX. Point72 Asset Management L.P. boosted its holdings in CytomX Therapeutics by 739.4% in the third quarter. Point72 Asset Management L.P. now owns 1,327,740 shares of the biotechnology company’s stock valued at $24,563,000 after acquiring an additional 1,169,569 shares during the last quarter. RTW Investments LP purchased a new position in CytomX Therapeutics in the fourth quarter valued at about $13,720,000. FMR LLC raised its position in CytomX Therapeutics by 15.4% in the third quarter. FMR LLC now owns 6,744,553 shares of the biotechnology company’s stock valued at $124,774,000 after purchasing an additional 900,927 shares during the period. Perceptive Advisors LLC raised its position in CytomX Therapeutics by 38.5% in the third quarter. Perceptive Advisors LLC now owns 2,661,715 shares of the biotechnology company’s stock valued at $49,242,000 after purchasing an additional 740,000 shares during the period. Finally, BlackRock Inc. raised its position in CytomX Therapeutics by 19.9% in the third quarter. BlackRock Inc. now owns 3,868,566 shares of the biotechnology company’s stock valued at $71,570,000 after purchasing an additional 642,165 shares during the period. Hedge funds and other institutional investors own 84.51% of the company’s stock.
CytomX Therapeutics Company Profile
CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 immuno-oncology target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel drug target; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.
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