JPMorgan upgraded CytomX Therapeutics to Neutral from Underweight without a price target. The company is entering a “catalyst rich period” over the next 6-18 months, the analyst tells investors in a research note. While the company is in an execution phase in the near term for key programs, over the next 6-18 months, each of these programs will have early stage readouts, says the firm. JPMorgan believes that current valuation levels, CytomX only needs one of its programs to move forward for material share upside.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CTMX:
- CytomX Therapeutics doses first patient in CX-2051 Phase 1 study
- CytomX announces $5M milestone triggered in Astellas Pharma TCB collaboration
- CytomX Therapeutics Announces Nomination of Second Clinical Candidate in Broad PROBODY® T-Cell Engaging Bispecific (TCB) Collaboration with Astellas
- CytomX Therapeutics Welcomes New Director and Updates Bylaws
- CytomX Therapeutics appoints Zhen Su to board of directors