CytomX Therapeutics price target raised to $17 from $10 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on CytomX Therapeutics (CTMX) to $17 from $10 and keeps a Buy rating on the shares, stating that the company sets a “new precedent for late-line colorectal cancer” with its Phase 1 expansion data for varsetatug masetecan. Varseta-M “already looks like a real 4L drug, with a credible path to 3L if optimized safety holds,” says the analyst, who is increasing the firm’s view on the probability of approval to 60% from 40%.