CytomX Therapeutics Inc (NASDAQ:CTMX) Expected to Post Quarterly Sales of $15.69 Million

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Analysts expect that CytomX Therapeutics Inc (NASDAQ:CTMX) will announce $15.69 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for CytomX Therapeutics’ earnings, with estimates ranging from $5.00 million to $22.92 million. CytomX Therapeutics reported sales of $11.47 million in the same quarter last year, which indicates a positive year-over-year growth rate of 36.8%. The business is expected to report its next quarterly earnings results on Wednesday, February 26th.

On average, analysts expect that CytomX Therapeutics will report full-year sales of $64.90 million for the current financial year, with estimates ranging from $54.20 million to $72.13 million. For the next financial year, analysts expect that the company will post sales of $51.05 million, with estimates ranging from $40.00 million to $64.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow CytomX Therapeutics.

CytomX Therapeutics (NASDAQ:CTMX) last announced its earnings results on Thursday, November 7th. The biotechnology company reported ($0.52) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.13). CytomX Therapeutics had a negative return on equity of 90.62% and a negative net margin of 163.18%. The business had revenue of $10.71 million for the quarter, compared to the consensus estimate of $23.58 million.

Several research analysts have recently commented on the stock. Wedbush cut shares of CytomX Therapeutics from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $25.00 to $8.00 in a report on Monday, November 11th. Mizuho reaffirmed a “buy” rating and set a $16.00 target price on shares of CytomX Therapeutics in a report on Monday, August 12th. BidaskClub lowered shares of CytomX Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 1st. Guggenheim initiated coverage on shares of CytomX Therapeutics in a research report on Wednesday, November 27th. They set a “buy” rating and a $16.00 price target on the stock. Finally, Cowen reiterated a “buy” rating on shares of CytomX Therapeutics in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $18.02.

Several hedge funds and other institutional investors have recently bought and sold shares of CTMX. Nuveen Asset Management LLC acquired a new stake in shares of CytomX Therapeutics during the 2nd quarter worth approximately $8,352,000. Victory Capital Management Inc. boosted its position in CytomX Therapeutics by 20.0% in the second quarter. Victory Capital Management Inc. now owns 1,985,990 shares of the biotechnology company’s stock valued at $22,283,000 after buying an additional 330,460 shares in the last quarter. Vanguard Group Inc. boosted its position in CytomX Therapeutics by 10.8% in the second quarter. Vanguard Group Inc. now owns 2,671,374 shares of the biotechnology company’s stock valued at $29,973,000 after buying an additional 259,355 shares in the last quarter. Morgan Stanley boosted its position in CytomX Therapeutics by 188.5% in the second quarter. Morgan Stanley now owns 331,094 shares of the biotechnology company’s stock valued at $3,715,000 after buying an additional 216,330 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in CytomX Therapeutics in the third quarter valued at approximately $1,438,000. Institutional investors and hedge funds own 78.89% of the company’s stock.

Shares of CTMX opened at $6.26 on Monday. CytomX Therapeutics has a 12 month low of $5.10 and a 12 month high of $19.75. The firm’s 50 day moving average is $6.28 and its 200-day moving average is $9.04. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 0.31.

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 immuno-oncology target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel drug target; 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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