CytomX Therapeutics (NASDAQ:CTMX) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

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

CytomX Therapeutics Price Performance

CTMX stock traded up $0.02 during midday trading on Friday, reaching $1.20. The company had a trading volume of 1,303,067 shares, compared to its average volume of 3,327,106. The firm has a 50-day moving average price of $1.38 and a 200-day moving average price of $1.82. The company has a market capitalization of $93.50 million, a P/E ratio of 6.00 and a beta of 1.06. CytomX Therapeutics has a 1 year low of $1.04 and a 1 year high of $5.85.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on CytomX Therapeutics from $3.25 to $3.59 and gave the company a “market perform” rating in a research note on Thursday, May 9th. Wedbush raised shares of CytomX Therapeutics from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $3.00 to $8.00 in a research note on Thursday, May 9th. Jefferies Financial Group raised shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and upped their target price for the stock from $2.50 to $8.00 in a report on Monday, May 6th. HC Wainwright reissued a “neutral” rating on shares of CytomX Therapeutics in a report on Thursday, June 27th. Finally, StockNews.com cut 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 company. According to data from MarketBeat, the stock has an average 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.