Zacks Investment Research cut shares of Cascadian Therapeutics Inc (NASDAQ:CASC) from a buy rating to a hold rating in a research report report published on Friday morning.
According to Zacks, “Cascadian Therapeutics, Inc. is a biopharmaceutical company specializing in developing innovative therapeutic product candidates for the treatment of cancer. The company’s product candidate is ONT-380, an orally active and selective small molecule HER2 inhibitor which is in preclinical trial stage. Cascadian Therapeutics, Inc., formerly known as Oncothyreon Inc., is headquartered in Seattle, Washington. “
Several other research analysts have also commented on CASC. Cantor Fitzgerald restated a hold rating and set a $4.00 price target on shares of Cascadian Therapeutics in a research note on Wednesday, May 10th. Cowen and Company restated a buy rating on shares of Cascadian Therapeutics in a research note on Tuesday, May 9th. Jefferies Group LLC restated a buy rating and set a $10.00 price target (down previously from $15.00) on shares of Cascadian Therapeutics in a research note on Saturday, March 11th. Finally, BTIG Research began coverage on shares of Cascadian Therapeutics in a research note on Friday, April 21st. They set a buy rating on the stock. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $6.25.
Cascadian Therapeutics (NASDAQ:CASC) traded up 2.962% during trading on Friday, hitting $4.345. 2,246 shares of the company traded hands. Cascadian Therapeutics has a one year low of $3.49 and a one year high of $10.98. The firm has a 50 day moving average of $4.14 and a 200 day moving average of $4.02. The firm’s market cap is $213.93 million.
Cascadian Therapeutics (NASDAQ:CASC) last announced its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.09. On average, analysts expect that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “Cascadian Therapeutics Inc (CASC) Cut to Hold at Zacks Investment Research” was published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://sportsperspectives.com/2017/05/25/cascadian-therapeutics-inc-casc-cut-to-hold-at-zacks-investment-research.html.
Hedge funds have recently modified their holdings of the stock. Perceptive Advisors LLC bought a new stake in shares of Cascadian Therapeutics during the fourth quarter worth $2,355,000. Handelsbanken Fonder AB bought a new stake in shares of Cascadian Therapeutics during the fourth quarter worth $362,000. Sandia Holdings LLC bought a new stake in shares of Cascadian Therapeutics during the fourth quarter worth $2,343,000. NEA Management Company LLC increased its stake in shares of Cascadian Therapeutics by 405.9% in the first quarter. NEA Management Company LLC now owns 9,064,575 shares of the biopharmaceutical company’s stock worth $37,527,000 after buying an additional 7,272,909 shares during the period. Finally, Sphera Funds Management LTD. bought a new stake in shares of Cascadian Therapeutics during the first quarter worth $2,406,000.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cascadian Therapeutics Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cascadian Therapeutics Inc and related companies with MarketBeat.com's FREE daily email newsletter.