Analysts Expect CytomX Therapeutics, Inc. (NASDAQ:CTMX) Will Post Earnings of -$0.35 Per Share

Wall Street analysts expect CytomX Therapeutics, Inc. (NASDAQ:CTMX – Get Rating) to announce ($0.35) earnings per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for CytomX Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.26) and the lowest estimate coming in at ($0.42). CytomX Therapeutics reported earnings per share of ($0.26) during the same quarter last year, which would indicate a negative year over year growth rate of 34.6%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that CytomX Therapeutics will report full year earnings of ($1.60) per share for the current fiscal year, with EPS estimates ranging from ($1.88) to ($1.17). For the next financial year, analysts expect that the company will post earnings of ($1.70) per share, with EPS estimates ranging from ($2.34) to ($1.23). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover CytomX Therapeutics.

CytomX Therapeutics (NASDAQ:CTMX – Get Rating) last announced its earnings results on Tuesday, March 1st. The biotechnology company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.18). CytomX Therapeutics had a negative net margin of 120.18% and a negative return on equity of 69.96%. During the same quarter last year, the company earned ($0.31) earnings per share.

Several analysts recently issued reports on CTMX shares. Barclays raised shares of CytomX Therapeutics from an “underweight” rating to an “overweight” rating and set a $7.00 price objective for the company in a research note on Tuesday, January 18th. Zacks Investment Research lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, February 2nd. StockNews.com initiated coverage on shares of CytomX Therapeutics in a research note on Thursday, March 31st. They set a “sell” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of CytomX Therapeutics in a research report on Friday, March 4th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of CytomX Therapeutics from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 2nd. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.83.

NASDAQ CTMX traded down $0.12 on Wednesday, reaching $2.55. 32,960 shares of the company’s stock traded hands, compared to its average volume of 878,654. CytomX Therapeutics has a fifty-two week low of $2.57 and a fifty-two week high of $10.05. The business has a 50 day moving average of $3.59.

Several hedge funds have recently made changes to their positions in CTMX. Los Angeles Capital Management LLC boosted its stake in CytomX Therapeutics by 22.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 87,723 shares of the biotechnology company’s stock valued at $447,000 after acquiring an additional 16,000 shares during the last quarter. GSA Capital Partners LLP bought a new position in CytomX Therapeutics during the 3rd quarter valued at $1,268,000. Panagora Asset Management Inc. boosted its stake in CytomX Therapeutics by 20.4% during the 3rd quarter. Panagora Asset Management Inc. now owns 112,816 shares of the biotechnology company’s stock valued at $574,000 after acquiring an additional 19,123 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of CytomX Therapeutics by 16.5% during the third quarter. Goldman Sachs Group Inc. now owns 1,109,065 shares of the biotechnology company’s stock worth $5,645,000 after purchasing an additional 157,048 shares during the period. Finally, Affinity Asset Advisors LLC raised its holdings in shares of CytomX Therapeutics by 66.7% during the third quarter. Affinity Asset Advisors LLC now owns 125,000 shares of the biotechnology company’s stock worth $636,000 after purchasing an additional 50,000 shares during the period. Institutional investors and hedge funds own 92.79% of the company’s stock.

CytomX Therapeutics Company Profile (Get Rating)

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops antibody therapeutics based on its Probody technology platform for the treatment of cancer. The company's product candidates include CX-2009, an antibody drug conjugates (ADC) against CD166, which is in Phase II clinical trials for the treatment of breast cancer; CX-2029 that is in Phase II clinical trials for the treatment of squamous non-small cell lung cancer, head and neck squamous cell carcinoma, esophageal and gastro-esophageal junction cancers, and diffuse large B-cell lymphoma; BMS-986249, a CTLA-4 Probody therapeutic drug, which is in Phase I/II clinical trials for the treatment of metastatic melanoma; and BMS-986288, an anti-CTLA-4 Probody drug, which is in Phase I clinical trials for the treatment of solid tumors.

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