Shares of CytRx Corp. (NASDAQ:CYTR) have been assigned an average rating of “Buy” from the seven analysts that are covering the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $5.32.
Several analysts have recently weighed in on CYTR shares. S&P Equity Research lowered their price objective on shares of CytRx Corp. from $1.04 to $0.75 in a research note on Tuesday, July 12th. Zacks Investment Research upgraded shares of CytRx Corp. from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a research note on Tuesday, June 14th. FBR & Co reiterated a “buy” rating and issued a $8.00 price objective on shares of CytRx Corp. in a research note on Wednesday, June 8th. Finally, Jefferies Group reiterated a “hold” rating and issued a $0.75 price objective (down previously from $2.50) on shares of CytRx Corp. in a research note on Friday, July 15th.
Shares of CytRx Corp. (NASDAQ:CYTR) opened at 0.5706 on Friday. The firm’s market cap is $55.32 million. CytRx Corp. has a 52 week low of $0.55 and a 52 week high of $3.66. The firm has a 50-day moving average of $0.58 and a 200-day moving average of $1.89.
CytRx Corp. (NASDAQ:CYTR) last released its quarterly earnings data on Friday, July 29th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.19) by $0.08. On average, analysts expect that CytRx Corp. will post ($0.71) EPS for the current year.
A number of hedge funds have recently made changes to their positions in the stock. RTW Investments LLC raised its stake in shares of CytRx Corp. by 11.1% in the first quarter. RTW Investments LLC now owns 513,092 shares of the company’s stock worth $1,375,000 after buying an additional 51,268 shares during the period. State Street Corp raised its stake in shares of CytRx Corp. by 17.3% in the first quarter. State Street Corp now owns 932,902 shares of the company’s stock worth $2,500,000 after buying an additional 137,264 shares during the period. Geode Capital Management LLC raised its stake in shares of CytRx Corp. by 0.8% in the first quarter. Geode Capital Management LLC now owns 351,694 shares of the company’s stock worth $942,000 after buying an additional 2,958 shares during the period. Metropolitan Life Insurance Co. NY acquired a new stake in shares of CytRx Corp. during the first quarter worth approximately $155,000. Finally, Bank of New York Mellon Corp raised its stake in shares of CytRx Corp. by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 201,596 shares of the company’s stock worth $450,000 after buying an additional 725 shares during the period. Institutional investors and hedge funds own 19.60% of the company’s stock.
CytRx Corp. Company Profile
CytRx Corporation is a biopharmaceutical research and development company specializing in oncology. The Company is focused on the clinical development of aldoxorubicin, its modified version of the chemotherapeutic agent, doxorubicin. It is engaged in Phase III trials for aldoxorubicin as a therapy for patients with soft tissue sarcoma (STS) whose tumors have progressed after treatment with chemotherapy.
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