Promising Clinical Data and Safety Profile Lead to Buy Rating for CytomX Therapeutics’ CX-2051

CytomX Therapeutics (CTMX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Mitchell Kapoor from H.C. Wainwright upgraded the rating on the stock to a Buy and gave it a $5.00 price target.

Mitchell Kapoor has given his Buy rating due to a combination of factors surrounding the promising clinical data for CytomX Therapeutics’ CX-2051. The recent results from the EpCAM ProBody Topo-1 ADC trial in patients with advanced colorectal cancer have shown a notable response rate, particularly at higher doses, which suggests potential for further efficacy as the study progresses.
Furthermore, the preliminary progression-free survival data indicate a meaningful clinical benefit, especially given the heavily pretreated patient population. The safety profile of CX-2051 is also encouraging, with manageable side effects and no severe treatment-related adverse events. These positive findings support the decision to expand the trial, which could provide additional insights into the drug’s potential and inform future dosing strategies.

In another report released on May 13, Barclays also maintained a Buy rating on the stock with a $3.50 price target.

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CTMX in relation to earlier this year.