CytomX Therapeutics (NASDAQ:CTMX) Releases Earnings Results, Beats Expectations By $0.09 EPS

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

CytomX Therapeutics Stock Performance

Shares of CTMX stock opened at $2.13 on Tuesday. The firm has a market cap of $171.72 million, a P/E ratio of 12.53 and a beta of 1.11. The firm’s 50 day moving average price is $0.69 and its 200-day moving average price is $0.86. CytomX Therapeutics has a one year low of $0.40 and a one year high of $2.27.

Analyst Ratings Changes

CTMX has been the subject of several recent research reports. HC Wainwright reaffirmed a “neutral” rating on shares of CytomX Therapeutics in a report on Friday, March 7th. Wedbush reaffirmed an “outperform” rating and issued a $6.00 target price (up from $5.00) on shares of CytomX Therapeutics in a research note on Monday. Piper Sandler began coverage on shares of CytomX Therapeutics in a research report on Monday, April 14th. They set an “overweight” rating and a $2.50 price target on the stock. Finally, StockNews.com initiated coverage on shares of CytomX Therapeutics in a report on Tuesday, April 15th. They issued a “hold” rating for the company.

CytomX Therapeutics Company Profile

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.