Oppenheimer Remains a Buy on CytomX Therapeutics (CTMX), Sets a $7 PT

CytomX Therapeutics, Inc. (NASDAQ:CTMX) is one of the best stocks under $5 with highest upside potential. On October 28, Oppenheimer analyst Matthew Biegler maintained a Buy rating on CytomX Therapeutics, Inc. (NASDAQ:CTMX) and set a $7 price target.

However, J.P. Morgan analyst Anupam Rama reiterated a Hold rating on the stock on October 23 without assigning a price target.

Rama based the rating on the future potential and current status of CytomX Therapeutics’ CX-2051, stating that he expects more clarity on its safety profile and efficacy from the upcoming Phase 1 data update for CX-2051 in advanced colorectal cancer.

Although the initial data exhibited promising efficacy with a higher objective response rate when compared to standard treatments, the analyst believes that concerns remain about adverse events, especially diarrhea. This could affect the overall safety perception of the drug, supporting the cautious stance.

CytomX Therapeutics, Inc. (NASDAQ:CTMX) is a clinical-stage, oncology-focused biopharmaceutical company that develops conditionally activated biologics localized to the tumor microenvironment.

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Disclosure: None. This article is originally published at Insider Monkey.