CytomX Therapeutics (NASDAQ:CTMX) Posts Earnings Results, Misses Expectations By $0.01 EPS

CytomX Therapeutics (NASDAQ:CTMX) announced its 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 for 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 last year, the business posted ($0.02) EPS.

CytomX Therapeutics Stock Up 1.7 %

Shares of NASDAQ:CTMX traded up $0.02 during midday trading 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 company has a market capitalization of $93.50 million, a P/E ratio of 6.00 and a beta of 1.06. The company’s 50-day moving average price is $1.38 and its 200-day moving average price is $1.82. CytomX Therapeutics has a fifty-two week low of $1.04 and a fifty-two week high of $5.85.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CTMX. StockNews.com cut CytomX Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, June 17th. Wedbush upgraded shares of CytomX Therapeutics from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $3.00 to $8.00 in a research note on Thursday, May 9th. JPMorgan Chase & Co. upgraded shares of CytomX Therapeutics from an “underweight” rating to a “neutral” rating in a research report on Monday, April 22nd. Jefferies Financial Group raised shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the stock from $2.50 to $8.00 in a report on Monday, May 6th. Finally, Piper Sandler upgraded CytomX Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $2.25 to $3.50 in a research note on Tuesday, May 28th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock 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.