Wolfe Research Initiates Coverage of CytomX Therapeutics (CTMX) with Outperform

CytomX Therapeutics, Inc. (NASDAQ:CTMX) is one of the 10 Best Penny Stocks to Buy for Long Term.

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.

Wolfe Research Initiates Coverage of CytomX Therapeutics (CTMX) with Outperform

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.

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