CytomX Therapeutics Inc (NASDAQ:CTMX) Expected to Post Quarterly Sales of $23.58 Million

Wall Street brokerages expect CytomX Therapeutics Inc (NASDAQ:CTMX) to announce $23.58 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for CytomX Therapeutics’ earnings, with the highest sales estimate coming in at $24.89 million and the lowest estimate coming in at $22.92 million. CytomX Therapeutics reported sales of $12.51 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 88.5%. The firm is scheduled to issue its next earnings report on Tuesday, November 5th.

On average, analysts expect that CytomX Therapeutics will report full year sales of $85.66 million for the current financial year, with estimates ranging from $84.34 million to $88.29 million. For the next year, analysts anticipate that the company will post sales of $58.69 million, with estimates ranging from $51.68 million to $64.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover CytomX Therapeutics.

CytomX Therapeutics (NASDAQ:CTMX) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.64) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.09). The business had revenue of $9.01 million during the quarter, compared to the consensus estimate of $15.11 million. CytomX Therapeutics had a negative return on equity of 77.05% and a negative net margin of 158.05%.

CTMX has been the topic of a number of recent analyst reports. Cowen restated a “buy” rating on shares of CytomX Therapeutics in a report on Wednesday, August 7th. Zacks Investment Research downgraded shares of CytomX Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, August 15th. ValuEngine upgraded shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub downgraded shares of CytomX Therapeutics from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 1st. Finally, Nomura restated a “buy” rating and set a $22.00 target price on shares of CytomX Therapeutics in a report on Sunday, August 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $20.22.

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its holdings in shares of CytomX Therapeutics by 0.7% in the second quarter. BlackRock Inc. now owns 3,890,049 shares of the biotechnology company’s stock valued at $43,647,000 after purchasing an additional 25,658 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of CytomX Therapeutics by 10.8% in the second quarter. Vanguard Group Inc. now owns 2,671,374 shares of the biotechnology company’s stock valued at $29,973,000 after purchasing an additional 259,355 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of CytomX Therapeutics by 20.0% in the second quarter. Victory Capital Management Inc. now owns 1,985,990 shares of the biotechnology company’s stock valued at $22,283,000 after purchasing an additional 330,460 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of CytomX Therapeutics by 9.0% in the second quarter. Renaissance Technologies LLC now owns 1,407,000 shares of the biotechnology company’s stock valued at $15,787,000 after purchasing an additional 116,400 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in shares of CytomX Therapeutics in the second quarter valued at $8,352,000. Institutional investors and hedge funds own 78.49% of the company’s stock.

Shares of CTMX stock traded up $0.21 during trading on Thursday, reaching $7.66. The company’s stock had a trading volume of 474,013 shares, compared to its average volume of 360,257. The business has a fifty day moving average price of $8.72 and a 200-day moving average price of $10.16. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.26. The company has a market cap of $338.30 million, a price-to-earnings ratio of -3.77 and a beta of 0.68. CytomX Therapeutics has a one year low of $7.25 and a one year high of $19.75.

About CytomX Therapeutics

CytomX Therapeutics, Inc operates as an oncology-focused biopharmaceutical company in the United States. The company develops a novel class of investigational antibody therapeutics based on its Probody technology platform for the treatment of cancer. Its product candidates in clinical stage include CX-072, a Probody therapeutic targeting programmed cell death ligand 1 immuno-oncology target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel drug target; BMS-986249, a CTLA-4 Probody therapeutic drug; CX-2029, a PDC targeting CD71; and CX-188, a Probody therapeutic targeting PD-1 anti-cancer target.

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