Cascadian Therapeutics Inc. (CASC) Upgraded by Zacks Investment Research to Hold
Cascadian Therapeutics Inc. (NASDAQ:CASC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” 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. “
Separately, Cowen and Company restated a “buy” rating on shares of Cascadian Therapeutics in a research report on Monday, October 10th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $3.20.
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Shares of Cascadian Therapeutics (NASDAQ:CASC) traded up 0.77% during midday trading on Tuesday, reaching $1.31. The company had a trading volume of 307,407 shares. The firm’s market capitalization is $177.26 million. Cascadian Therapeutics has a one year low of $0.82 and a one year high of $3.75. The company has a 50 day moving average price of $1.35 and a 200-day moving average price of $1.18.
Cascadian Therapeutics (NASDAQ:CASC) last issued its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.14. During the same period in the prior year, the firm posted ($0.11) EPS. On average, analysts anticipate that Cascadian Therapeutics will post $5.02 EPS for the current fiscal year.
In related news, insider Scott Dunseth Myers acquired 45,000 shares of the stock in a transaction on Wednesday, August 17th. The stock was bought at an average cost of $1.15 per share, with a total value of $51,750.00. Following the transaction, the insider now directly owns 107,500 shares in the company, valued at $123,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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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