CytomX Therapeutics (NASDAQ:CTMX) Issues Quarterly Earnings Results

CytomX Therapeutics (NASDAQ:CTMX) issued its earnings results on Thursday. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.45, Zacks reports. The company had revenue of $38.09 million during the quarter, compared to analysts’ expectations of $13.53 million. CytomX Therapeutics had a negative return on equity of 41.47% and a net margin of 10.96%.

CytomX Therapeutics Stock Up 7.7 %

Shares of CytomX Therapeutics stock opened at $0.66 on Friday. CytomX Therapeutics has a 52 week low of $0.60 and a 52 week high of $5.85. The business’s fifty day simple moving average is $0.84 and its 200-day simple moving average is $1.02. The firm has a market cap of $52.03 million, a PE ratio of 3.91 and a beta of 1.01.

Analyst Upgrades and Downgrades

CTMX has been the subject of several analyst reports. Wedbush restated an “outperform” rating and issued a $5.00 target price on shares of CytomX Therapeutics in a report on Friday. HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a report on Friday. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.02.

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.