5 Best Penny Stocks to Buy for Long Term

2. CytomX Therapeutics, Inc. (NASDAQ:CTMX)

On May 19, 2026, Wolfe Research initiated coverage of CytomX Therapeutics, Inc. (NASDAQ:CTMX) with an Outperform rating and a $6 price target. The firm said CytomX currently has the only de-risked epithelial cell adhesion molecule, or EpCAM, antibody-drug conjugate in clinical development. While toxicity remains a key area of focus, Wolfe believes the company can manage safety concerns and maintain acceptable Grade 3 adverse event rates. The firm also characterized the recent weakness in the stock as a potential buying opportunity.

Meanwhile, H.C. Wainwright lowered the firm’s price target on CytomX Therapeutics, Inc. (NASDAQ:CTMX) to $11 from $17 and maintained a Buy rating on the shares. The revised target primarily reflected dilution tied to the company’s recent financing activities.

On May 7, 2026, CytomX Therapeutics, Inc. (NASDAQ:CTMX) reported Q1 EPS of (10c), versus the consensus estimate of (11c). Revenue came in at $10.26M, versus the consensus estimate of $4.68M. Chairman and CEO Sean McCarthy said the company has continued to build momentum in 2026 and remains focused on advancing Varseta-M, its EpCAM ADC candidate, into a registrational study for late-line colorectal cancer. Management also said the company is continuing to invest in exploring broader applications for Varseta-M across earlier-line colorectal cancer settings and additional tumor types.

CytomX Therapeutics, Inc. (NASDAQ:CTMX) is an oncology-focused biopharmaceutical company developing conditionally activated biologics designed to target the tumor microenvironment.