CytomX Therapeutics price target raised to $12 from $10 at Oppenheimer

Oppenheimer raised the firm’s price target on CytomX Therapeutics (CTMX) to $12 from $10 and keeps an Outperform rating on the shares. The updated expansion data for CX-2051 “handily exceeded even the upside case,” the analyst tells investors in a research note. The firm believes CX-2051 “could be a game-changer” for patients with colon cancer, and “may have room to move up the treatment paradigm.” CytomX shares are up 57%, or $2.65, to $7.33 in morning trading.