Oppenheimer Assigns a Hold Rating on CytomX Therapeutics Inc


Oppenheimer analyst Leah R. Cann assigned a Hold rating to CytomX Therapeutics Inc (NASDAQ: CTMX) yesterday. The company’s shares closed yesterday at $23.54.

Cann noted:

“Two ASCO abstracts were released on CX-072, one for part A and one for part B. These data are preliminary clinical results from PROCLAIM-072, an ongoing phase I/II trial evaluating CX-072. The timing of these results is as expected. Progress in parts A and B of PROCLAIM-CX-072 presented in the ASCO Abstracts supports our view that CytomX will advance CX-072 to be filed with FDA in 2022. Our outlook remains unchanged. Posters from these abstracts will detail initial results from two ongoing dose escalation arms of the PROCLAIM-CX-072 trial as monotherapy and in combination with Yervoy (ipilimumab) in patients with advanced unresectable solid tumors.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 15.8% and a 58.6% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, Crispr Therapeutics AG, and Intellia Therapeutics.

CytomX Therapeutics Inc has an analyst consensus of Strong Buy, with a price target consensus of $40.

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The company has a one-year high of $35 and a one-year low of $13. Currently, CytomX Therapeutics Inc has an average volume of 378.9K.

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CytomX Therapeutics, Inc. operates as an oncology-base biopharmaceutical company, which focuses on developing probody therapeutics for the treatment of cancer. The company was founded in September, 2010 and is headquartered in South San Francisco, CA.

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