CytomX Therapeutics’ (CTMX) Buy Rating Reiterated at Bank of America Corporation

Bank of America Corporation reissued their buy rating on shares of CytomX Therapeutics, Inc. (NASDAQ:CTMX) in a research report report published on Wednesday morning. They currently have a $30.00 price target on the biotechnology company’s stock, up from their previous price target of $28.00.

Other equities research analysts have also issued research reports about the company. HC Wainwright reaffirmed a buy rating on shares of CytomX Therapeutics in a research report on Monday, May 8th. Zacks Investment Research raised CytomX Therapeutics from a hold rating to a buy rating and set a $17.00 price target on the stock in a research report on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a buy rating and set a $25.00 price target on shares of CytomX Therapeutics in a research report on Wednesday, April 26th. Cowen and Company reaffirmed a buy rating on shares of CytomX Therapeutics in a research report on Tuesday. Finally, BidaskClub raised CytomX Therapeutics from a sell rating to a hold rating in a research report on Saturday, July 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. CytomX Therapeutics has an average rating of Hold and a consensus target price of $25.60.

CytomX Therapeutics (CTMX) traded up 0.94% during trading on Wednesday, reaching $13.98. The company’s stock had a trading volume of 159,504 shares. The firm’s market cap is $515.40 million. CytomX Therapeutics has a 52 week low of $9.85 and a 52 week high of $20.02. The stock’s 50 day moving average is $14.70 and its 200-day moving average is $14.50.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported ($0.69) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.39) by $0.30. The business had revenue of $8.75 million for the quarter, compared to analyst estimates of $4.95 million. CytomX Therapeutics had a negative return on equity of 84.61% and a negative net margin of 206.33%. On average, equities research analysts forecast that CytomX Therapeutics will post ($1.47) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “CytomX Therapeutics’ (CTMX) Buy Rating Reiterated at Bank of America Corporation” was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://stocknewstimes.com/2017/08/12/cytomx-therapeutics-ctmx-buy-rating-reiterated-at-bank-of-america-corporation.html.

In related news, insider Sean A. Mccarthy sold 4,481 shares of the stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $15.00, for a total transaction of $67,215.00. Following the completion of the transaction, the insider now directly owns 8,726 shares in the company, valued at $130,890. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Robert I. Tepper sold 15,000 shares of the stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $16.00, for a total value of $240,000.00. Following the transaction, the insider now owns 44,777 shares of the company’s stock, valued at $716,432. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 39,343 shares of company stock valued at $606,856. 4.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its position in CytomX Therapeutics by 28.6% in the second quarter. Legal & General Group Plc now owns 6,448 shares of the biotechnology company’s stock worth $101,000 after buying an additional 1,434 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in CytomX Therapeutics during the first quarter worth about $159,000. First Quadrant L P CA purchased a new position in CytomX Therapeutics during the second quarter worth about $160,000. Goldman Sachs Group Inc. purchased a new position in CytomX Therapeutics during the first quarter worth about $190,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in CytomX Therapeutics during the first quarter worth about $206,000. Institutional investors and hedge funds own 52.33% 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.

Analyst Recommendations 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.

Latest News

Leave a Reply