Cascadian Therapeutics Inc. (CASC) Downgraded by Zacks Investment Research
Cascadian Therapeutics Inc. (NASDAQ:CASC) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a note issued to investors on Tuesday.
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 brokerages have also recently issued reports on CASC. Cantor Fitzgerald reissued a “hold” rating and issued a $2.00 price objective on shares of Cascadian Therapeutics in a research note on Wednesday, June 15th. Cowen and Company reissued a “buy” rating on shares of Cascadian Therapeutics in a research note on Wednesday, June 15th. Finally, Jefferies Group reissued a “buy” rating on shares of Cascadian Therapeutics in a research note on Wednesday, June 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Cascadian Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $3.20.
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Cascadian Therapeutics (NASDAQ:CASC) traded down 8.22% during mid-day trading on Tuesday, hitting $1.34. The company’s stock had a trading volume of 1,143,916 shares. Cascadian Therapeutics has a 12-month low of $0.82 and a 12-month high of $3.75. The firm’s 50-day moving average is $1.33 and its 200-day moving average is $1.17. The company’s market cap is $181.32 million.
Cascadian Therapeutics (NASDAQ:CASC) last announced its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by $0.14. During the same period in the prior year, the company earned ($0.11) earnings per share. Analysts predict that Cascadian Therapeutics will post $5.02 EPS for the current fiscal year.
In related news, insider Scott Dunseth Myers bought 45,000 shares of the stock in a transaction on Wednesday, August 17th. The stock was bought at an average price of $1.15 per share, for a total transaction of $51,750.00. Following the completion of the acquisition, the insider now directly owns 107,500 shares in the company, valued at $123,625. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 19.40% of the company’s stock.
Cascadian Therapeutics Company Profile
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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