H.C. Wainwright Reiterates a Buy Rating on CytRx Corporation


In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on CytRx Corporation (NASDAQ: CYTR), with a price target of $4.50. The company’s shares closed yesterday at $1.33, close to its 52-week low of $1.24.

Selvaraju observed:

“We note that this was a straight common stock offering. Our 2019 net loss per share estimate rises to $0.89 vs. the prior $0.80 due to lower-than-anticipated dilution from financing. In the wake of these developments, we reiterate our Buy rating while raising our 12-month price target to $4.50 from $4 per share. Aldoxorubicin safety profile slated to be showcased near-term. In a recent press release, CytRx also indicated that clinical data showing the lack of cardiac toxicity associated with treatment with partner NantCell’s aldoxorubicin is to be featured in a poster presentation at the Oncology (ASCO) 2018 Annual Meeting, taking place Chicago, IL. The data were obtained from two clinical trials of aldoxorubicin, a rationally-engineered cytotoxic which employs a linker bound to albumin to deliver doxorubicin directly into the tumor.”

According to TipRanks.com, Selvaraju has 0 stars on 0-5 star ranking scale with an average return of -3.4% and a 38.5% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as IntelliPharmaCeutics International, Biospecifics Technologies Corp, and EyePoint Pharmaceuticals Inc.

CytRx Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $4.50.

See today’s analyst top recommended stocks >>

The company has a one-year high of $5.99 and a one-year low of $1.24. Currently, CytRx Corporation has an average volume of 391.2K.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

CytRx Corp. operates as a biopharmaceutical research and development company specializing in oncology. It focuses on discovering, developing, and commercializing new therapeutics to treat patients with cancer; including aldoxorubicin, a modified version of the widely-used chemotherapeutic agent, doxorubicin.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts