Analysts Expect CytRx Co. (CYTR) to Post -$0.09 Earnings Per Share

Analysts expect CytRx Co. (NASDAQ:CYTR) to report ($0.09) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for CytRx’s earnings. CytRx posted earnings per share of ($0.16) during the same quarter last year, which indicates a positive year-over-year growth rate of 43.8%. The firm is expected to announce its next quarterly earnings results on Monday, March 18th.

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

CytRx (NASDAQ:CYTR) last released its quarterly earnings data on Friday, November 2nd. The biotechnology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $0.25 million for the quarter.

Several research firms have commented on CYTR. HC Wainwright set a $5.00 price objective on shares of CytRx and gave the company a “buy” rating in a report on Thursday, July 26th. Zacks Investment Research raised shares of CytRx from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a report on Friday, August 10th.

An institutional investor recently raised its position in CytRx stock. BlackRock Inc. raised its stake in shares of CytRx Co. (NASDAQ:CYTR) by 31.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 302,983 shares of the biotechnology company’s stock after purchasing an additional 72,879 shares during the period. BlackRock Inc. owned 0.90% of CytRx worth $343,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 10.03% of the company’s stock.

Shares of CYTR traded up $0.01 during midday trading on Tuesday, hitting $0.78. 184,700 shares of the company traded hands, compared to its average volume of 254,946. CytRx has a 52 week low of $0.65 and a 52 week high of $2.47. The company has a market capitalization of $24.05 million, a PE ratio of -0.51 and a beta of 2.24.

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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