Piper Sandler and H.C. Wainwright Stay Bullish on CytomX (CTMX)

CytomX Therapeutics, Inc. (NASDAQ:CTMX) is one of the 10 Best US Penny Stocks to Buy. On December 5, Piper Sandler reaffirmed its Buy rating on CytomX Therapeutics, Inc. (NASDAQ:CTMX) with a price target of $6.50.

Also on December 5, H.C. Wainwright reiterated its Buy rating on CytomX Therapeutics, Inc. (NASDAQ:CTMX) with a price target of $10. This update comes as the company approaches an important data readout for its CX-2051 therapy in colorectal cancer. H.C. Wainwright outlined specific performance benchmarks to measure how successful the upcoming dataset could be. In its most optimistic or “slam dunk” scenario, the firm expects an objective response rate of 25% to 30% or higher, median progression-free survival of at least six months, and Grade 3 diarrhea in less than 5% of patients.

H.C. Wainwright also described a “bull case” scenario, which would still be seen as positive. This will include an objective response rate of 15% to 20% or higher, a median progression-free survival of at least five months, and Grade 3 diarrhea in less than 10% of patients. The research firm’s analysis included input from Dr. Michael Pishvaian, who was reportedly impressed by the CX-2051’s interim data, and especially noted its performance in patients previously treated with irinotecan.

On the downside, the firm also defined a “bear case” scenario. This would include an objective response rate of 10% or lower with a median progression-free survival of only two to three months. These benchmarks provide investors with clear metrics to assess the upcoming clinical results.

CytomX Therapeutics, Inc. (NASDAQ:CTMX) is a clinical-stage, oncology-focused biopharmaceutical company focused on developing masked biologics that conditionally activate in the tumor microenvironment.

READ NEXT: 10 Best New Penny Stocks to Invest In and 13 Best Gold Mining Companies to Invest In Now.

Disclosure: None. This article is originally published at Insider Monkey.