CytRx Corporation (NASDAQ:CYTR) opened trading today as $2.51 and is trading in the range of 2.24-2.67 today. They now have a Dollars 3 price target on the stock. This biotech R&D pharmaceutical company conducted trials with patients suffering from soft tissue sarcomas.
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Out of the 4 analysts polled by TipRanks, 2 rate Cytrx stock a Buy, while 2 rate the stock a Hold.
In addition to this, FBR Capital slashed its target price from $8 to $3 on the stock after the study failed to meet its primary endpoint. However, the testing was not altogether an abysmal failure for the company because the ORR (objective response rate) was markedly higher than its comparator arm.
11/05/2015 – CytRx Corporation had its “outperform” rating reiterated by analysts at Oppenheimer.
Micro cap CytRx (NASDAQ:CYTR) craters 56% after hours on increased volume in response to its announcement of results from a Phase 3 clinical trial assessing lead product candidate aldoxorubicin compared to investigator’s choice of therapy in patients with relapsed/refractory soft tissue sarcoma (STS). As per the Food and Drug Administration’s (FDA) granted special protocol assessment, the current analysis was on done on 191 progression events.
This caused nearly half of all patients to be censored from the current progression-free survival (PFS) evaluation. The analyst had a meeting with the management which held a call for disclosing the initial results of the study.
Previously, the reason behind the FDA’s hold on the company’s trial was related to a single patient enrolled in a compassionate use study, which was resolved successfully. Firstly, despite missing on reaching the desired endpoint of PFS, aldoxorubicin demonstrated a clear level of clinical activity, along with an Objective Response Rate (ORR) to be almost doubled from the rate observed within its comparator arm.
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Now there are 3 street experts covering CytRx Corporation (CYTR) stock.
