CytRx (CYTR) Upgraded at Zacks Investment Research

CytRx (NASDAQ:CYTR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The firm presently has a $1.50 target price on the biotechnology company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 14.07% from the company’s previous close.

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 upped their target price on shares of CytRx from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Wednesday. ValuEngine upgraded shares of CytRx from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd.

CytRx traded down $0.01, hitting $1.32, during trading on Thursday, Marketbeat reports. The company had a trading volume of 176,468 shares, compared to its average volume of 373,166. The stock has a market capitalization of $44.74 million, a PE ratio of -0.87 and a beta of 2.04. CytRx has a 12 month low of $1.24 and a 12 month high of $6.00.

CytRx (NASDAQ:CYTR) last issued its earnings results on Friday, May 11th. The biotechnology company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.09. equities research analysts anticipate that CytRx will post -0.96 earnings per share for the current year.

About CytRx

CytRx Corporation operates as a biopharmaceutical research and development company specializing in oncology. The company's product candidate is the aldoxorubicin, which is in Phase III clinical trial as a therapy for patients with soft tissue sarcomas (STS); and in Phase Ib/II trial in combination with ifosfamide in patients with STS.

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