Cascadian Therapeutics Inc. (CASC) Stock Rating Lowered 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 report issued 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 equities research analysts also recently issued reports on the stock. Cowen and Company restated a “buy” rating on shares of Cascadian Therapeutics in a research note on Monday. Jefferies Group restated a “buy” rating on shares of Cascadian Therapeutics in a research note on Wednesday, June 15th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $2.00 price objective on shares of Cascadian Therapeutics in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $3.20.
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Shares of Cascadian Therapeutics (NASDAQ:CASC) traded down 8.22% during trading on Tuesday, reaching $1.34. 1,143,916 shares of the company were exchanged. Cascadian Therapeutics has a 52-week low of $0.82 and a 52-week high of $3.75. The stock’s market capitalization is $181.32 million. The stock has a 50-day moving average of $1.33 and a 200 day moving average of $1.17.
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 last year, the business posted ($0.11) EPS. On average, equities analysts anticipate that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.
In other Cascadian Therapeutics news, insider Scott Dunseth Myers purchased 45,000 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were purchased at an average price of $1.15 per share, for a total transaction of $51,750.00. Following the completion of the purchase, the insider now directly owns 107,500 shares of the company’s stock, valued at $123,625. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 19.40% of the company’s stock.
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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