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CytRx Corp (CYTR) in Focus: Stock Rises 10.2% in Session

CytRx Corporation CYTR was a big mover last session, as its shares rose over 10% on the day. The upside likely followed the achievement of the target number of progression events in the company’s pivotal, global phase 3 clinical trial on aldoxorubicin. This also led to far more shares changing hands than in a normal session. Yesterday’s rally breaks the trend for the company, as the stock is now trading above the volatile price range of $2.03 to $2.94 in the past one-month time frame.

Over the last 30 days, the company witnessed two negative estimate revisions and the Zacks Consensus Estimate also moved lower, signaling trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s move higher lasts.

CytRx Corp currently has a Zacks Rank #4 (Sell) while its Earnings ESP is 0.00%.

A better-ranked biomedical stock is Anika Therapeutics Inc. ANIK with a Zacks Rank #1 (Strong Buy).

Is CYTR going up? Or down? Predict to see what others think: Up or Down

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ANIKA THERAPEUT (ANIK): Free Stock Analysis Report
 
CYTRX CORP (CYTR): Free Stock Analysis Report
 
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