Cantor Fitzgerald Forecasts Strong Price Appreciation for CytomX Therapeutics (NASDAQ:CTMX) Stock

CytomX Therapeutics (NASDAQ:CTMX) had its price target boosted by equities research analysts at Cantor Fitzgerald from $6.00 to $10.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 90.84% from the company’s previous close.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings upgraded CytomX Therapeutics from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Piper Sandler upped their price objective on CytomX Therapeutics from $6.50 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Wall Street Zen cut CytomX Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. HC Wainwright boosted their price target on CytomX Therapeutics from $5.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Finally, Wedbush restated an “outperform” rating and issued a $6.00 price target on shares of CytomX Therapeutics in a research note on Friday, November 7th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

CytomX Therapeutics Trading Down 7.6%

CytomX Therapeutics stock opened at $5.24 on Wednesday. The firm has a 50 day moving average of $4.60 and a 200 day moving average of $3.45. The firm has a market capitalization of $887.81 million, a price-to-earnings ratio of 13.10 and a beta of 2.44. CytomX Therapeutics has a 12-month low of $0.40 and a 12-month high of $6.35.

CytomX Therapeutics (NASDAQ:CTMX) last issued its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.05). The firm had revenue of $5.96 million for the quarter, compared to analysts’ expectations of $11.50 million. CytomX Therapeutics had a net margin of 24.66% and a return on equity of 44.49%. On average, analysts predict that CytomX Therapeutics will post -0.05 EPS for the current year.

Hedge Funds Weigh In On CytomX Therapeutics

Several institutional investors have recently added to or reduced their stakes in CTMX. Orbimed Advisors LLC purchased a new stake in shares of CytomX Therapeutics during the 2nd quarter worth approximately $19,208,000. Commodore Capital LP bought a new stake in CytomX Therapeutics in the second quarter worth $17,462,000. Perceptive Advisors LLC bought a new stake in CytomX Therapeutics in the second quarter worth $15,876,000. Vivo Capital LLC purchased a new stake in CytomX Therapeutics during the second quarter valued at $13,096,000. Finally, Franklin Resources Inc. bought a new position in CytomX Therapeutics during the second quarter valued at $13,096,000. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About CytomX Therapeutics

CytomX Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery and development of next-generation therapeutics based on its proprietary Probody® platform. The company engineers masked antibody prodrugs that remain inactive in healthy tissue but are selectively activated in the tumor microenvironment. This approach is designed to enhance the safety and tolerability of antibody-based therapies, particularly those targeting immuno-oncology pathways.

At the core of CytomX’s pipeline is Pacmilimab (CX-072), an anti–PD-L1 Probody therapeutic currently undergoing clinical evaluation for multiple solid tumor indications.