CytomX Therapeutics (NASDAQ:CTMX) Issues Quarterly Earnings Results

CytomX Therapeutics (NASDAQ:CTMX) posted its quarterly earnings results on Thursday. The biotechnology company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01), Zacks reports. The firm had revenue of $25.12 million during the quarter, compared to the consensus estimate of $21.79 million. CytomX Therapeutics had a negative return on equity of 30.70% and a net margin of 13.87%. During the same quarter in the previous year, the company earned ($0.02) earnings per share.

CytomX Therapeutics Price Performance

Shares of CTMX stock traded up $0.02 during trading hours on Friday, hitting $1.20. The stock had a trading volume of 1,303,067 shares, compared to its average volume of 3,327,106. The stock has a market capitalization of $93.50 million, a price-to-earnings ratio of 6.00 and a beta of 1.06. CytomX Therapeutics has a one year low of $1.04 and a one year high of $5.85. The stock’s 50-day moving average price is $1.38 and its two-hundred day moving average price is $1.82.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the company from $2.50 to $8.00 in a research note on Monday, May 6th. BMO Capital Markets upped their price objective on CytomX Therapeutics from $3.25 to $3.59 and gave the stock a “market perform” rating in a research note on Thursday, May 9th. HC Wainwright reissued a “neutral” rating on shares of CytomX Therapeutics in a research note on Thursday, June 27th. Wedbush raised CytomX Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $3.00 to $8.00 in a report on Thursday, May 9th. Finally, StockNews.com lowered shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, June 17th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.77.

About CytomX Therapeutics

CytomX Therapeutics, Inc, an oncology-focused biopharmaceutical company, focuses on developing novel conditionally activated biologics localized to the tumor microenvironment. The company utilizes conditional activation platform technology for oncology biologics research and development comprising the validation of targets for antibody-drug conjugates (ADCs), opening therapeutic window for novel T-cell engagers (TCEs) targeting solid tumors, and increasing the therapeutic index for immune modulators, such as cytokines; and PROBODY platform in preclinical research in areas outside of oncology.