CytomX Therapeutics upgraded to Buy from Neutral at H.C. Wainwright

H.C. Wainwright upgraded CytomX Therapeutics (CTMX) to Buy from Neutral with a $5 price target The company reported “highly encouraging” clinical data for its masked EpCAM ProBody Topo-1 ADC, CX-2051, in 25 patients with late-line colorectal cancer, the analyst tells investors in a research note. The firm says that at the highest dose, 43% of patients achieved confirmed responses, which could be more indicative of the response rate upon CX-2051 dose expansion. H.C. Wainwright now sees a path forward for CX-2051 in colorectal cancer.