Mizuho analyst Mara Goldstein lowered the firm’s price target on CytomX Therapeutics (CTMX) to $2 from $4 and keeps a Neutral rating on the shares. The company’s Q4 report included AbbVie’s (ABBV) decision to decline advancing CX-2029, leaving CytomX with an option to re-acquire rights, the analyst tells investors in a research note. CytomX has indicated this is under consideration, but the new price target reflects its removal, says the firm.
Published first on TheFly
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