CytRx (CYTR) Given Buy Rating at HC Wainwright

CytRx (NASDAQ:CYTR)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Monday. They currently have a $5.00 target price on the biotechnology company’s stock.

The analysts wrote, “Our price target is based on a composite valuation assessment that ascribes: (1) $105M to the future royalty streams from sales of aldoxorubicin, to which we assign a 60% probability of success and 12% discount rate; and (2) $55M to the LADR portfolio of candidates, which includes the companion diagnostic platform.””

Separately, Zacks Investment Research raised CytRx from a “hold” rating to a “buy” rating and set a $1.25 target price on the stock in a research report on Friday, August 10th.

NASDAQ CYTR traded down $0.05 during trading hours on Monday, hitting $0.72. The company’s stock had a trading volume of 919 shares, compared to its average volume of 168,543. CytRx has a 12 month low of $0.65 and a 12 month high of $2.47. The company has a market capitalization of $24.05 million, a price-to-earnings ratio of -0.51 and a beta of 2.24.

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 company had revenue of $0.25 million during the quarter. On average, equities research analysts anticipate that CytRx will post -0.42 EPS for the current year.

An institutional investor recently raised its position in CytRx stock. BlackRock Inc. boosted its holdings in shares of CytRx Co. (NASDAQ:CYTR) by 31.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 302,983 shares of the biotechnology company’s stock after buying an additional 72,879 shares during the period. BlackRock Inc. owned approximately 0.90% of CytRx worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 10.03% of the stock is currently owned by 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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