$18.35 Million in Sales Expected for CytomX Therapeutics, Inc. (NASDAQ:CTMX) This Quarter

Brokerages predict that CytomX Therapeutics, Inc. (NASDAQ:CTMX – Get Rating) will post $18.35 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for CytomX Therapeutics’ earnings. The lowest sales estimate is $15.41 million and the highest is $25.00 million. CytomX Therapeutics reported sales of $16.29 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.6%. The business is expected to issue its next earnings report on Monday, January 1st.

On average, analysts expect that CytomX Therapeutics will report full year sales of $73.74 million for the current year, with estimates ranging from $63.36 million to $100.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $79.75 million, with estimates ranging from $69.26 million to $100.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow CytomX Therapeutics.

CytomX Therapeutics (NASDAQ:CTMX – Get Rating) last announced its earnings results on Thursday, May 5th. The biotechnology company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). CytomX Therapeutics had a negative return on equity of 83.08% and a negative net margin of 129.97%. During the same period in the prior year, the firm earned ($0.26) earnings per share.

A number of equities analysts recently commented on CTMX shares. StockNews.com raised CytomX Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of CytomX Therapeutics in a report on Friday, March 4th. Wedbush decreased their price target on CytomX Therapeutics from $10.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, May 10th. Zacks Investment Research cut CytomX Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Finally, JPMorgan Chase & Co. decreased their price target on CytomX Therapeutics from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, March 2nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CytomX Therapeutics has an average rating of “Buy” and an average target price of $9.54.

Shares of CytomX Therapeutics stock opened at $1.69 on Friday. CytomX Therapeutics has a one year low of $1.51 and a one year high of $8.63. The stock’s fifty day moving average is $2.34 and its 200 day moving average is $4.12.

Several institutional investors have recently modified their holdings of CTMX. Macquarie Group Ltd. grew its position in CytomX Therapeutics by 515.1% in the third quarter. Macquarie Group Ltd. now owns 4,853 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 4,064 shares in the last quarter. Mackenzie Financial Corp bought a new stake in shares of CytomX Therapeutics during the first quarter valued at approximately $35,000. Delphia USA Inc. bought a new stake in shares of CytomX Therapeutics during the first quarter valued at approximately $39,000. Lazard Asset Management LLC bought a new stake in shares of CytomX Therapeutics during the first quarter valued at approximately $40,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of CytomX Therapeutics during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 92.34% 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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