CytomX Therapeutics (CTMX) KOL Event Does Not Reduce Side Effect Overhang - Mizuho Securities

April 8, 2021 6:57 AM EDT
Get Alerts CTMX Hot Sheet
Price: $6.68 -3.61%

Rating Summary:
    12 Buy, 3 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 9 | New: 25
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Mizuho Securities analyst Mara Goldstein reiterated a Buy rating and $16.00 price target on CytomX Therapeutics (NASDAQ: CTMX) after attending a KOL event with a deep dive into Probody technology, its applicability to targeting undruggable targets, and an overview of Probodyenabled candidates praluzatamab ravtansine (CX-2009) and CX-2029.

The analyst stated "Our main takeaway is that in spite of evidence of therapeutic activity, the meeting did
little to alleviate the current side-effect-related overhang on the shares at this point. We see CX-2009 as less of a concern but the event did not, in our view, provide enough support to improve the probability of success of CX-2029 for investors. We expect shares to remain weak until data in 4Q21, though it is our view that a bias to the upside exists once a fuller clinical picture emerges."

For an analyst ratings summary and ratings history on CytomX Therapeutics click here. For more ratings news on CytomX Therapeutics click here.

Shares of CytomX Therapeutics closed at $7.60 yesterday.

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Mara Goldstein