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Investing.com - H.C. Wainwright has reiterated a Buy rating on CytomX Therapeutics (NASDAQ:CTMX) with a $10.00 price target as the company approaches a critical data readout for its CX-2051 therapy in colorectal cancer. Currently trading at $4.08, the stock has delivered an impressive 251.72% return over the past year, according to InvestingPro data.
The firm outlined specific performance benchmarks that would define success for the upcoming dataset, categorizing outcomes into three scenarios. A "slam dunk" result would show an objective response rate of 25-30% or higher, median progression-free survival of at least 6 months, and Grade 3 diarrhea in fewer than 5% of patients.
H.C. Wainwright’s analysis included input from Dr. Michael Pishvaian, who reportedly had an impressed response to CX-2051’s interim data, particularly noting its performance in irinotecan-pretreated patients.
The firm’s "bull case" scenario would still be considered positive with an objective response rate of 15-20% or higher, median progression-free survival of at least 5 months, and Grade 3 diarrhea in fewer than 10% of patients. InvestingPro data shows CTMX trading at a favorable PEG ratio of 0.49, suggesting it may be undervalued relative to its growth potential.
The analysis also defined a "bear case" scenario as an objective response rate of 10% or lower with median progression-free survival of only 2-3 months, providing investors with clear metrics to evaluate the upcoming clinical results. With analyst targets ranging from $6 to $10 and a consensus "Strong Buy" recommendation, investors can access comprehensive analysis in the Pro Research Report available on InvestingPro.
In other recent news, CytomX Therapeutics reported a notable decline in its third-quarter 2025 revenue, falling to $6 million from $33.4 million in the same period last year. The company also posted a larger-than-expected loss per share of $0.09, missing analysts’ forecast of a $0.05 loss. Despite these financial setbacks, CytomX Therapeutics remains in focus for investors, with Cantor Fitzgerald maintaining an Overweight rating and a price target of $6.00. Piper Sandler has also adjusted its outlook on the company, raising the price target to $6.50 from $5.00 while keeping an Overweight rating. This upgrade follows promising Phase I data for CytomX’s CX-801 treatment for melanoma, with plans to present further data next year. These developments highlight the mixed signals investors are navigating with CytomX Therapeutics, balancing financial challenges with potential advancements in their treatment pipeline.
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