Jefferies Downgrades CytomX Therapeutics (CTMX) to Hold

Jefferies analyst Biren Amin downgraded CytomX Therapeutics (NASDAQ: CTMX) from Buy to Hold with a price target of $10.00 (from $16.00).

The analyst comments "At ASCO, CTMX made multiple presentations across each of their clinical stage pipeline programs and partnered pipeline however we were underwhelmed across the board. '2029 was the focus of recent investor interest, however, it appears to have a narrow therapeutic index. We are downgrading to Hold on '2029 issues, a lack of clear strategy for '072 and a challenging dev't path for '2009. Lastly, there is a lack of data catalysts over the next 12-18 mos."

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 $8.86 yesterday.

You May Also Be Interested In

• ASML Holding NV (ASML:NA) (ASML) PT Raised to EUR2,150 at Deutsche Bank
• JPMorgan Upgrades Nippon Chemi-Con (6997:JP) to Neutral
• Morgan Stanley Resumes Rakuten Bank Ltd (5838:JP) at Equalweight