Equities researchers at BTIG Research initiated coverage on shares of Cascadian Therapeutics Inc (NASDAQ:CASC) in a report released on Friday. The brokerage set a “buy” rating on the biopharmaceutical company’s stock.
Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded Cascadian Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Jefferies Group LLC reissued a “buy” rating and set a $10.00 target price (down previously from $15.00) on shares of Cascadian Therapeutics in a research note on Saturday, March 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Cascadian Therapeutics presently has a consensus rating of “Buy” and an average price target of $5.58.
Cascadian Therapeutics (NASDAQ:CASC) traded up 4.59% during midday trading on Friday, hitting $4.10. The stock had a trading volume of 641,734 shares. The firm’s market cap is $201.81 million. The firm has a 50 day moving average of $4.02 and a 200 day moving average of $3.50. Cascadian Therapeutics has a 52 week low of $0.82 and a 52 week high of $6.72.
Cascadian Therapeutics (NASDAQ:CASC) last posted its quarterly earnings data on Thursday, March 9th. The biopharmaceutical company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.05. Equities research analysts predict that Cascadian Therapeutics will post $5.02 EPS for the current year.
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In other news, Director Christopher S. Henney purchased 25,324 shares of the business’s stock in a transaction on Monday, January 30th. The stock was acquired at an average price of $4.11 per share, for a total transaction of $104,081.64. Following the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $205,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ted W. Love purchased 23,000 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were purchased at an average price of $4.24 per share, with a total value of $97,520.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 73,490 shares of company stock valued at $297,696 in the last 90 days. 20.70% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Perkins Capital Management Inc. boosted its position in shares of Cascadian Therapeutics by 6.4% in the first quarter. Perkins Capital Management Inc. now owns 48,129 shares of the biopharmaceutical company’s stock worth $199,000 after buying an additional 2,887 shares during the period. Perceptive Advisors LLC bought a new position in shares of Cascadian Therapeutics during the fourth quarter worth approximately $2,355,000. Sandia Holdings LLC bought a new position in shares of Cascadian Therapeutics during the fourth quarter worth approximately $2,343,000. Oxford Asset Management boosted its position in shares of Cascadian Therapeutics by 50.2% in the fourth quarter. Oxford Asset Management now owns 122,075 shares of the biopharmaceutical company’s stock worth $526,000 after buying an additional 40,782 shares during the period. Finally, Handelsbanken Fonder AB bought a new position in shares of Cascadian Therapeutics during the fourth quarter worth approximately $362,000.
About Cascadian Therapeutics
Cascadian Therapeutics, Inc, formerly Oncothyreon Inc, is a clinical-stage biopharmaceutical company. The Company focuses on the development of therapeutic products for the treatment of cancer. The Company’s clinical-stage product candidate includes ONT-380, an orally active and selective small-molecule human epidermal growth factor receptor (HER) 2 inhibitor.
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