CytRx Co. (CYTR) Expected to Post Earnings of -$0.09 Per Share

Wall Street brokerages predict that CytRx Co. (NASDAQ:CYTR) will post earnings per share (EPS) of ($0.09) for the current quarter, according to Zacks. Zero analysts have provided estimates for CytRx’s earnings. CytRx reported earnings of ($0.33) per share in the same quarter last year, which would indicate a positive year over year growth rate of 72.7%. The company is scheduled to announce its next quarterly earnings results on Wednesday, November 14th.

On average, analysts expect that CytRx will report full-year earnings of ($0.42) per share for the current financial year. For the next year, analysts expect that the business will post earnings of ($0.50) per share. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for CytRx.

CytRx (NASDAQ:CYTR) last issued its earnings results on Monday, August 6th. The biotechnology company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.08.

A number of brokerages have issued reports on CYTR. Zacks Investment Research lowered shares of CytRx from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. HC Wainwright set a $5.00 price target on shares of CytRx and gave the stock a “buy” rating in a report on Thursday, July 26th.

CytRx stock traded down $0.01 during trading hours on Friday, reaching $0.86. The stock had a trading volume of 300 shares, compared to its average volume of 259,786. The firm has a market cap of $35.32 million, a PE ratio of -0.56 and a beta of 1.74. CytRx has a 52 week low of $0.82 and a 52 week high of $2.59.

An institutional investor recently raised its position in CytRx stock. BlackRock Inc. boosted its position in CytRx Co. (NASDAQ:CYTR) by 31.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 302,983 shares of the biotechnology company’s stock after acquiring an additional 72,879 shares during the period. BlackRock Inc. owned 0.90% of CytRx worth $343,000 at the end of the most recent reporting period. 10.03% of the stock is currently owned by hedge funds and other institutional investors.

CytRx Company Profile

CytRx Corporation, a biopharmaceutical company, engages in the research and clinical development of novel anti-cancer drug candidates that employ linker technologies to enhance the accumulation and release of drug at the tumor. The company is developing its pipeline of oncology candidates at its laboratory facilities in Freiburg, Germany, through its LADR (linker activated drug release) technology platform, a discovery engine designed to leverage its expertise in albumin biology and linker technology for the development of anti-cancer therapies.

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Earnings History and Estimates for CytRx (NASDAQ:CYTR)

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