J.P. Morgan analyst Anupam Rama has maintained their neutral stance on CTMX stock, giving a Hold rating on October 23.
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Anupam Rama has given his Hold rating due to a combination of factors related to the current status and future potential of CytomX Therapeutics’ CX-2051. The upcoming Phase 1 data update for CX-2051 in advanced colorectal cancer is anticipated to provide more clarity on its efficacy and safety profile. While the initial data showed promising efficacy with a higher objective response rate compared to standard treatments, there remain concerns about adverse events, particularly diarrhea, which could impact the drug’s overall safety perception.
Furthermore, the company’s recent disclosure of a treatment-related acute kidney injury, although isolated, adds a layer of uncertainty that warrants caution. Rama’s Hold rating reflects a balanced view, acknowledging the potential upside if future data are positive, but also recognizing the need for additional de-risking data before a more optimistic rating can be justified. The market’s focus on safety improvements and the narrowing of effective doses in the upcoming updates will be crucial in determining the stock’s future trajectory.
Rama covers the Healthcare sector, focusing on stocks such as IDEAYA Biosciences, Olema Pharmaceuticals, and Sarepta Therapeutics. According to TipRanks, Rama has an average return of 1.8% and a 46.75% success rate on recommended stocks.
In another report released on October 23, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $4.00 price target.