Wolfe Research initiated coverage on CytomX Therapeutics (CTMX) with an outperform rating and a $3.50 price target.
The biotech firm has a $762 million market cap. Shares surged 64% in the past year. Analysts maintain a strong buy consensus.
Wolfe highlighted Varseta-M drug candidate, showing 20-32% response rates in late-line colorectal cancer. That's five times higher than Lonsurf-bev.
CytomX has three catalysts in 12 months: clinical update in H2 2026, FDA alignment, and combo data in late 2026 or early 2027.
The company holds more cash than debt, providing financial flexibility.
