Zacks Investment Research downgraded shares of CytRx (NASDAQ:CYTR) from a buy rating to a hold rating in a research note published on Monday.
According to Zacks, “CYTRX CORP. is engaged in the development and commercialization of pharmaceutical related products and services including human therapeutics focused on high-value critical- care therapies. “
CYTR has been the subject of several other research reports. HC Wainwright set a $5.00 price target on shares of CytRx and gave the company a buy rating in a research report on Friday, January 4th. ValuEngine raised shares of CytRx from a sell rating to a hold rating in a research report on Wednesday, January 2nd.
CytRx (NASDAQ:CYTR) last announced its quarterly earnings data on Friday, November 9th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). The firm had revenue of $0.25 million for the quarter. On average, analysts predict that CytRx will post -0.41 earnings per share for the current year.
A hedge fund recently raised its stake in CytRx stock. BlackRock Inc. raised its position in shares of CytRx Co. (NASDAQ:CYTR) by 31.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 302,983 shares of the biotechnology company’s stock after buying an additional 72,879 shares during the period. BlackRock Inc. owned about 0.90% of CytRx worth $343,000 at the end of the most recent reporting period. 8.80% of the stock is currently owned by hedge funds and other institutional investors.
CytRx Corporation, a biopharmaceutical company, engages in the research and clinical development of novel anti-cancer drug candidates that employ linker technologies to enhance the accumulation and release of drug at the tumor. The company is developing its pipeline of oncology candidates at its laboratory facilities in Freiburg, Germany, through its LADR (linker activated drug release) technology platform, a discovery engine designed to leverage its expertise in albumin biology and linker technology for the development of anti-cancer therapies.
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