CytRx Corp. (NASDAQ:CYTR) Receives $5.32 Average Price Target from Brokerages
Shares of CytRx Corp. (NASDAQ:CYTR) have earned an average rating of “Buy” from the seven ratings firms that are currently covering the stock. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $5.32.
CYTR has been the topic of a number of research reports. Jefferies Group reiterated a “hold” rating and set a $0.75 target price (down previously from $2.50) on shares of CytRx Corp. in a research report on Friday, July 15th. Zacks Investment Research downgraded shares of CytRx Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. FBR & Co dropped their target price on shares of CytRx Corp. from $8.00 to $3.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 12th. Finally, S&P Equity Research dropped their target price on shares of CytRx Corp. from $1.04 to $0.75 in a research report on Tuesday, July 12th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY acquired a new position in CytRx Corp. during the first quarter valued at $155,000. RTW Investments LLC increased its position in CytRx Corp. by 11.1% in the first quarter. RTW Investments LLC now owns 513,092 shares of the company’s stock valued at $1,375,000 after buying an additional 51,268 shares during the last quarter. Geode Capital Management LLC increased its position in CytRx Corp. by 0.8% in the first quarter. Geode Capital Management LLC now owns 351,694 shares of the company’s stock valued at $942,000 after buying an additional 2,958 shares during the last quarter. State Street Corp increased its position in CytRx Corp. by 17.3% in the first quarter. State Street Corp now owns 932,902 shares of the company’s stock valued at $2,500,000 after buying an additional 137,264 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in CytRx Corp. during the second quarter valued at $199,000. Hedge funds and other institutional investors own 19.60% of the company’s stock.
CytRx Corp. (NASDAQ:CYTR) opened at 0.5647 on Friday. The stock has a 50 day moving average of $0.58 and a 200-day moving average of $1.86. The company’s market cap is $54.74 million. CytRx Corp. has a 12 month low of $0.55 and a 12 month high of $3.66.
CytRx Corp. (NASDAQ:CYTR) last issued its quarterly earnings results on Friday, July 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.08. Equities research analysts expect that CytRx Corp. will post ($0.71) EPS for the current year.
About CytRx Corp.
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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