CytRx Corp. (CYTR) PT Set at $3.00 by FBR & Co
CytRx Corp. (NASDAQ:CYTR) has been assigned a $3.00 price objective by equities research analysts at FBR & Co in a report issued on Monday. The brokerage presently has a a “buy” rating on the stock. FBR & Co’s price objective would indicate a potential upside of 471.43% from the stock’s previous close.
Separately, Zacks Investment Research cut shares of CytRx Corp. from a “buy” rating to a “hold” rating in a research note on Monday, September 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $4.54.
CytRx Corp. (NASDAQ:CYTR) opened at 0.525 on Monday. The company has a 50-day moving average price of $0.51 and a 200 day moving average price of $1.29. CytRx Corp. has a 1-year low of $0.41 and a 1-year high of $3.66. The stock’s market cap is $50.90 million.
A number of hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System increased its stake in shares of CytRx Corp. by 45.7% in the third quarter. California State Teachers Retirement System now owns 204,074 shares of the company’s stock worth $120,000 after buying an additional 64,000 shares in the last quarter. Zacks Investment Management bought a new stake in shares of CytRx Corp. during the third quarter worth about $140,000. D. E. Shaw & Co. Inc. increased its stake in shares of CytRx Corp. by 1,282.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 297,579 shares of the company’s stock worth $175,000 after buying an additional 276,053 shares in the last quarter. Rhumbline Advisers increased its stake in shares of CytRx Corp. by 38.4% in the second quarter. Rhumbline Advisers now owns 88,419 shares of the company’s stock worth $197,000 after buying an additional 24,525 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in shares of CytRx Corp. during the second quarter worth about $199,000. Institutional investors own 21.04% 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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