J.P. Morgan analyst Anupam Rama has maintained their neutral stance on CTMX stock, giving a Hold rating today.
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Anupam Rama has given his Hold rating due to a combination of factors surrounding CytomX Therapeutics’ current clinical developments and market potential. The focus remains on the upcoming data from the CX-801 monotherapy in advanced melanoma, which is expected to be released in the fourth quarter. This data is anticipated to provide insights into the drug’s impact on the tumor microenvironment, although it will not include overall response rate assessments.
While the CX-801 update is not seen as a major catalyst, it could increase the program’s visibility as it progresses towards more significant data releases in 2026, particularly in combination with Keytruda. The safety profile of CX-801 is also under scrutiny, given the adverse event rates observed in similar treatments. Additionally, the potential market for CX-801 in refractory melanoma is modeled to reach significant sales, but further meaningful clinical data is needed to shift investor sentiment. Thus, the Hold rating reflects a balance between the promising potential of CytomX’s lead programs and the necessity for more substantial clinical evidence to support a more bullish outlook.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $2.50 price target.