Zacks: Brokerages Anticipate CytomX Therapeutics (CTMX) to Announce -$0.30 Earnings Per Share

Brokerages forecast that CytomX Therapeutics (NASDAQ:CTMX) will announce earnings per share of ($0.30) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for CytomX Therapeutics’ earnings, with the highest EPS estimate coming in at ($0.01) and the lowest estimate coming in at ($0.60). CytomX Therapeutics reported earnings per share of ($0.23) in the same quarter last year, which would indicate a negative year-over-year growth rate of 30.4%. The company is expected to announce its next quarterly earnings results on Friday, May 4th.

On average, analysts expect that CytomX Therapeutics will report full year earnings of ($1.44) per share for the current financial year, with EPS estimates ranging from ($2.85) to ($0.41). For the next fiscal year, analysts expect that the firm will post earnings of ($2.07) per share, with EPS estimates ranging from ($4.22) to ($1.09). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for CytomX Therapeutics.

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CytomX Therapeutics (NASDAQ:CTMX) last announced its earnings results on Wednesday, March 7th. The biotechnology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.43) by $0.45. The firm had revenue of $27.07 million for the quarter, compared to the consensus estimate of $10.70 million. CytomX Therapeutics had a negative net margin of 60.17% and a negative return on equity of 71.42%.

Several analysts have commented on the stock. Zacks Investment Research downgraded shares of CytomX Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, February 5th. Cantor Fitzgerald set a $40.00 target price on shares of CytomX Therapeutics and gave the stock a “buy” rating in a report on Saturday, March 17th. BidaskClub downgraded shares of CytomX Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Friday, March 30th. Citigroup assumed coverage on shares of CytomX Therapeutics in a report on Friday, January 5th. They set a “buy” rating and a $40.00 target price on the stock. Finally, ValuEngine upgraded shares of CytomX Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $37.86.

In other news, CFO Debanjan Ray sold 33,000 shares of CytomX Therapeutics stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $29.99, for a total value of $989,670.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Rachel Humphrey sold 23,840 shares of CytomX Therapeutics stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $30.00, for a total transaction of $715,200.00. Following the completion of the sale, the insider now owns 54,074 shares in the company, valued at $1,622,220. The disclosure for this sale can be found here. Insiders sold 103,548 shares of company stock worth $3,101,686 over the last quarter. 8.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in shares of CytomX Therapeutics in the fourth quarter valued at approximately $124,000. Macquarie Group Ltd. acquired a new stake in shares of CytomX Therapeutics in the third quarter valued at approximately $107,000. MetLife Investment Advisors LLC acquired a new stake in shares of CytomX Therapeutics in the fourth quarter valued at approximately $245,000. Virtus Fund Advisers LLC acquired a new stake in shares of CytomX Therapeutics in the fourth quarter valued at approximately $339,000. Finally, Alambic Investment Management L.P. acquired a new stake in shares of CytomX Therapeutics in the fourth quarter valued at approximately $355,000. Institutional investors own 78.07% of the company’s stock.

Shares of CTMX stock opened at $28.61 on Friday. CytomX Therapeutics has a 52 week low of $13.00 and a 52 week high of $35.00.

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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 anti-cancer target; CX-2009, a Probody drug conjugate (PDC) against CD166 novel tumor antigen; 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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Earnings History and Estimates for CytomX Therapeutics (NASDAQ:CTMX)

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