Zacks: Brokerages Expect CytomX Therapeutics Inc (CTMX) Will Announce Quarterly Sales of $16.48 Million

Equities research analysts expect that CytomX Therapeutics Inc (NASDAQ:CTMX) will post sales of $16.48 million for the current quarter, according to Zacks. Four analysts have provided estimates for CytomX Therapeutics’ earnings. The highest sales estimate is $24.40 million and the lowest is $8.00 million. CytomX Therapeutics posted sales of $8.75 million during the same quarter last year, which suggests a positive year over year growth rate of 88.3%. The company is scheduled to report its next quarterly earnings results on Monday, August 6th.

According to Zacks, analysts expect that CytomX Therapeutics will report full-year sales of $67.97 million for the current year, with estimates ranging from $38.20 million to $104.00 million. For the next year, analysts anticipate that the firm will report sales of $78.67 million per share, with estimates ranging from $63.00 million to $104.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover CytomX Therapeutics.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings results on Wednesday, March 7th. The biotechnology company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.45. The business had revenue of $27.07 million during the quarter, compared to analysts’ expectations of $10.70 million. CytomX Therapeutics had a negative return on equity of 92.68% and a negative net margin of 67.88%.



Several equities analysts have weighed in on CTMX shares. ValuEngine raised CytomX Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. SunTrust Banks started coverage on CytomX Therapeutics in a report on Friday, June 1st. They issued a “buy” rating and a $38.00 price objective for the company. Cowen reaffirmed a “buy” rating on shares of CytomX Therapeutics in a report on Thursday, May 10th. Cantor Fitzgerald set a $40.00 price objective on CytomX Therapeutics and gave the company a “buy” rating in a report on Wednesday, May 9th. Finally, Jefferies Group lifted their price objective on CytomX Therapeutics to $40.00 and gave the company a “buy” rating in a report on Thursday, March 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $38.38.

In other news, CFO Debanjan Ray sold 3,000 shares of CytomX Therapeutics stock in a transaction on Tuesday, May 1st. The stock was sold at an average price of $26.52, for a total value of $79,560.00. Following the transaction, the chief financial officer now owns 7,741 shares in the company, valued at approximately $205,291.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Frederick W. Gluck sold 5,000 shares of CytomX Therapeutics stock in a transaction on Monday, March 26th. The shares were sold at an average price of $31.93, for a total value of $159,650.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,578 shares of company stock worth $921,156. Corporate insiders own 8.50% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. EAM Global Investors LLC bought a new position in shares of CytomX Therapeutics in the 1st quarter valued at $1,382,000. Allianz Asset Management GmbH increased its stake in shares of CytomX Therapeutics by 7.4% in the 1st quarter. Allianz Asset Management GmbH now owns 58,739 shares of the biotechnology company’s stock valued at $1,671,000 after purchasing an additional 4,036 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of CytomX Therapeutics in the 1st quarter valued at $205,000. PointState Capital LP bought a new position in shares of CytomX Therapeutics in the 1st quarter valued at $4,381,000. Finally, Element Capital Management LLC bought a new position in shares of CytomX Therapeutics in the 1st quarter valued at $476,000. Institutional investors own 76.12% of the company’s stock.

NASDAQ:CTMX traded up $0.11 during mid-day trading on Wednesday, hitting $24.72. 325,814 shares of the stock were exchanged, compared to its average volume of 444,963. The stock has a market cap of $958.74 million, a P/E ratio of -21.31 and a beta of 0.88. CytomX Therapeutics has a fifty-two week low of $13.00 and a fifty-two week high of $35.00.

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 anti-cancer target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel tumor antigen; 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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Earnings History and Estimates for CytomX Therapeutics (NASDAQ:CTMX)

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