CytomX Therapeutics (NASDAQ:CTMX) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

CytomX Therapeutics (NASDAQ:CTMX) announced its quarterly earnings data on Monday. The biotechnology company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09, Zacks reports. The firm had revenue of $50.92 million during the quarter, compared to analysts’ expectations of $35.42 million. CytomX Therapeutics had a net margin of 10.96% and a negative return on equity of 41.47%. During the same quarter in the previous year, the business posted $0.17 earnings per share.

CytomX Therapeutics Trading Up 129.4%

CTMX stock opened at $2.13 on Tuesday. The stock has a market cap of $171.72 million, a P/E ratio of 12.53 and a beta of 1.11. CytomX Therapeutics has a twelve month low of $0.40 and a twelve month high of $2.27. The company’s 50 day moving average is $0.69 and its two-hundred day moving average is $0.86.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CTMX shares. StockNews.com assumed coverage on CytomX Therapeutics in a research report on Tuesday, April 15th. They set a “hold” rating on the stock. HC Wainwright restated a “neutral” rating on shares of CytomX Therapeutics in a report on Friday, March 7th. Wedbush reiterated an “outperform” rating and issued a $6.00 price objective (up previously from $5.00) on shares of CytomX Therapeutics in a research note on Monday. Finally, Piper Sandler began coverage on CytomX Therapeutics in a research report on Monday, April 14th. They set an “overweight” rating and a $2.50 price objective for the company.

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.