CytRx Corp. (NASDAQ:CYTR) shares were down 1.3% on Thursday . The stock traded as low as $2.22 and last traded at $2.25, with a volume of 558,386 shares. The stock had previously closed at $2.28.

Several research analysts have recently weighed in on CYTR shares. Aegis increased their price target on CytRx Corp. from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, March 28th. Jefferies Group reissued a “hold” rating and set a $2.50 price objective (down previously from $3.00) on shares of CytRx Corp. in a report on Monday, March 14th. Zacks Investment Research raised CytRx Corp. from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a report on Tuesday, June 14th. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of CytRx Corp. in a report on Saturday, April 23rd. Finally, FBR & Co reissued an “outperform” rating and set a $8.00 price objective on shares of CytRx Corp. in a report on Friday, May 20th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $7.50.

The firm’s market cap is $150.88 million. The firm’s 50 day moving average is $2.47 and its 200-day moving average is $2.53.

CytRx Corp. (NASDAQ:CYTR) last released its quarterly earnings results on Wednesday, May 11th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.07. Equities analysts forecast that CytRx Corp. will post ($0.78) earnings per share for the current year.

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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