CytRx Corp. (NASDAQ:CYTR) Given Consensus Rating of “Buy” by Brokerages
Shares of CytRx Corp. (NASDAQ:CYTR) have been given an average recommendation of “Buy” by the seven research firms that are covering the firm. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $5.32.
Several analysts have recently commented on CYTR shares. FBR & Co reiterated a “buy” rating and set a $8.00 price objective on shares of CytRx Corp. in a report on Wednesday, June 8th. Jefferies Group restated a “hold” rating on shares of CytRx Corp. in a research note on Wednesday, June 8th. Zacks Investment Research upgraded CytRx Corp. from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a research note on Tuesday, June 14th. Finally, S&P Equity Research reduced their target price on CytRx Corp. from $1.04 to $0.75 in a research note on Tuesday, July 12th.
CytRx Corp. (NASDAQ:CYTR) traded down 1.336% during mid-day trading on Friday, reaching $0.576. The company’s stock had a trading volume of 395,678 shares. CytRx Corp. has a one year low of $0.55 and a one year high of $3.66. The stock has a 50-day moving average price of $0.58 and a 200-day moving average price of $1.91. The company’s market capitalization is $55.84 million.
CytRx Corp. (NASDAQ:CYTR) last issued its quarterly earnings data on Friday, July 29th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.19) by $0.08. Equities research analysts forecast that CytRx Corp. will post ($0.71) EPS for the current year.
A number of large investors have recently made changes to their positions in CYTR. Vanguard Group Inc. increased its stake in shares of CytRx Corp. by 6.7% in the second quarter. Vanguard Group Inc. now owns 2,242,710 shares of the company’s stock valued at $5,001,000 after buying an additional 141,544 shares in the last quarter. State Street Corp increased 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 valued at $2,500,000 after buying an additional 137,264 shares in the last quarter. Highbridge Capital Management LLC bought a new stake in shares of CytRx Corp. during the second quarter valued at $199,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of CytRx Corp. during the first quarter valued at $155,000. Finally, RTW Investments LLC increased 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 valued at $1,375,000 after buying an additional 51,268 shares in the last quarter. 19.60% of the stock is currently owned by institutional investors.
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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