CytomX Therapeutics, Inc. (CTMX) Expected to Post Quarterly Sales of $4.95 Million

Equities analysts forecast that CytomX Therapeutics, Inc. (NASDAQ:CTMX) will report $4.95 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for CytomX Therapeutics’ earnings, with estimates ranging from $1.00 million to $8.90 million. CytomX Therapeutics posted sales of $3.09 million during the same quarter last year, which suggests a positive year over year growth rate of 60.2%. The firm is expected to announce its next quarterly earnings results on Wednesday, August 2nd.

On average, analysts expect that CytomX Therapeutics will report full year sales of $4.95 million for the current year, with estimates ranging from $15.00 million to $39.20 million. For the next financial year, analysts forecast that the firm will post sales of $72.30 million per share, with estimates ranging from $40.00 million to $104.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow CytomX Therapeutics.

CytomX Therapeutics (NASDAQ:CTMX) last announced its earnings results on Friday, May 5th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.32. CytomX Therapeutics had a negative net margin of 208.92% and a negative return on equity of 59.65%. The company had revenue of $11.65 million for the quarter, compared to the consensus estimate of $2.10 million.

Several brokerages have issued reports on CTMX. Jefferies Group LLC reiterated a “buy” rating and issued a $25.00 price target on shares of CytomX Therapeutics in a research note on Tuesday, June 6th. Zacks Investment Research upgraded shares of CytomX Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, May 3rd. Cowen and Company reiterated a “buy” rating on shares of CytomX Therapeutics in a research note on Wednesday, June 28th. ValuEngine lowered shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Finally, Cann reiterated a “hold” rating on shares of CytomX Therapeutics in a research note on Thursday, March 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.50.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this report on another domain, it was illegally copied and reposted in violation of US & international copyright & trademark law. The correct version of this report can be accessed at https://sportsperspectives.com/2017/07/20/cytomx-therapeutics-inc-ctmx-expected-to-post-quarterly-sales-of-4-95-million.html.

Shares of CytomX Therapeutics (NASDAQ:CTMX) traded up 0.791% during mid-day trading on Thursday, reaching $13.385. 295,537 shares of the company’s stock traded hands. The company’s 50 day moving average is $14.74 and its 200-day moving average is $14.27. The firm’s market cap is $491.89 million. CytomX Therapeutics has a 52 week low of $9.81 and a 52 week high of $20.02.

In other news, CFO Debanjan Ray sold 2,500 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $15.47, for a total transaction of $38,675.00. Following the transaction, the chief financial officer now directly owns 22,126 shares in the company, valued at approximately $342,289.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Robert I. Tepper sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $16.00, for a total transaction of $240,000.00. Following the transaction, the insider now owns 44,777 shares in the company, valued at $716,432. The disclosure for this sale can be found here. Insiders have sold a total of 36,843 shares of company stock worth $572,703 over the last 90 days. 4.70% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Highbridge Capital Management LLC purchased a new position in CytomX Therapeutics during the fourth quarter valued at $158,000. Hillsdale Investment Management Inc. purchased a new position in CytomX Therapeutics during the first quarter valued at $159,000. First Quadrant L P CA purchased a new position in CytomX Therapeutics during the second quarter valued at $160,000. Goldman Sachs Group Inc. purchased a new position in CytomX Therapeutics during the first quarter valued at $190,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in CytomX Therapeutics during the first quarter valued at $206,000. Institutional investors own 52.28% of the company’s stock.

CytomX Therapeutics Company Profile

CytomX Therapeutics, Inc is a clinical-stage, oncology-focused biopharmaceutical company. The Company uses its Probody technology platform to create cancer immunotherapies against clinically validated targets, as well as to develop cancer therapeutics against difficult-to-drug targets. Its pipeline is focused on the development of therapies in a set of modalities: Probody cancer immunotherapies, Probody drug conjugates, T-cell engaging Probody bispecifics and ProCAR-NK cell therapies.

Get a free copy of the Zacks research report on CytomX Therapeutics (CTMX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CytomX Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CytomX Therapeutics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply