CytomX Therapeutics (NASDAQ:CTMX) Price Target Raised to $11.00 at Wedbush

CytomX Therapeutics (NASDAQ:CTMX) had its price target upped by Wedbush from $6.00 to $11.00 in a report issued on Tuesday,Benzinga reports. Wedbush currently has an outperform rating on the biotechnology company’s stock.

Several other equities research analysts also recently issued reports on CTMX. JPMorgan Chase & Co. upgraded CytomX Therapeutics from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $7.00 to $12.00 in a report on Monday. Barclays increased their target price on CytomX Therapeutics from $8.00 to $10.00 and gave the company an “overweight” rating in a research note on Wednesday, February 4th. Guggenheim reissued a “buy” rating and set a $10.00 price target on shares of CytomX Therapeutics in a research report on Monday, March 9th. Piper Sandler lifted their price target on shares of CytomX Therapeutics from $6.50 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 20th. Finally, Cantor Fitzgerald upped their price target on shares of CytomX Therapeutics from $6.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $11.50.

CytomX Therapeutics Trading Down 19.3%

CTMX stock opened at $5.45 on Tuesday. The stock has a 50-day moving average price of $5.26 and a two-hundred day moving average price of $4.09. The company has a market cap of $923.39 million, a PE ratio of -136.25 and a beta of 2.44. CytomX Therapeutics has a 12-month low of $0.40 and a 12-month high of $8.21.

CytomX Therapeutics (NASDAQ:CTMX) last released its quarterly earnings data on Monday, March 16th. The biotechnology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.14). CytomX Therapeutics had a negative net margin of 22.79% and a negative return on equity of 20.65%. The company had revenue of $0.66 million during the quarter, compared to analysts’ expectations of $7.33 million. Equities analysts forecast that CytomX Therapeutics will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On CytomX Therapeutics

Institutional investors have recently made changes to their positions in the stock. Boothbay Fund Management LLC acquired a new stake in CytomX Therapeutics in the third quarter worth $3,946,000. Precision Wealth Strategies LLC acquired a new position in shares of CytomX Therapeutics during the third quarter valued at $756,000. Baker BROS. Advisors LP raised its stake in shares of CytomX Therapeutics by 22.0% during the third quarter. Baker BROS. Advisors LP now owns 4,250,826 shares of the biotechnology company’s stock valued at $13,560,000 after purchasing an additional 766,600 shares in the last quarter. Inspire Investing LLC bought a new stake in shares of CytomX Therapeutics during the third quarter valued at about $1,667,000. Finally, Vivo Capital LLC acquired a new stake in CytomX Therapeutics in the second quarter worth about $13,096,000. 67.77% of the stock is owned by institutional investors.

Key Stories Impacting CytomX Therapeutics

Here are the key news stories impacting CytomX Therapeutics this week:

• Positive Sentiment: Phase 1 Varseta‑M expansion showed meaningful activity in heavily pretreated metastatic colorectal cancer (32% response rate at 10 mg/kg Q3W; estimated PFS ~7.1 months) with a manageable safety profile and planned FDA discussions to align on potential registrational trial — this is the primary catalyst for the earlier rally. Read More.
• Positive Sentiment: Multiple firms upgraded or raised price targets after the data (examples: Wedbush, HC Wainwright, JPMorgan noted higher PTs and upgraded ratings), which amplified buying interest and momentum. Read More.
• Neutral Sentiment: Company released its Q4 materials, slide deck and hosted an earnings call discussing the clinical progress and next‑steps (including combination studies and timelines) — useful context for longer‑term investors assessing pathway to a registrational study. Read More.
• Negative Sentiment: CytomX filed for an underwritten public offering to raise $250M (common stock and pre‑funded warrants) — a near‑term dilution risk that likely pressured the stock after the initial data‑driven surge. Read More.
• Negative Sentiment: Q4 results missed expectations (EPS and revenue; EPS -$0.22 vs. est. -$0.08; revenue ~$0.66M vs. est. ~$7.33M), which reinforces near‑term funding needs and contributed to selling pressure. Read More.

CytomX Therapeutics Company Profile

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.