Cerulean Pharma Inc. (CERU) Downgraded by Zacks Investment Research to “Hold”
Cerulean Pharma Inc. (NASDAQ:CERU) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Cerulean Pharma Inc. is a clinical-stage oncology-focused company. The Company manufactures therapeutics in the areas of oncology, cardiovascular, autoimmune, and inflammatory diseases as well as tumor cells. Cerulean Pharma Inc. is based in Cambridge, Massachusetts. “
CERU has been the subject of several other research reports. Roth Capital reiterated a “buy” rating and set a $2.50 price target (down previously from $9.00) on shares of Cerulean Pharma in a report on Thursday, August 18th. Canaccord Genuity reiterated a “buy” rating and set a $20.00 price target (down previously from $29.00) on shares of Cerulean Pharma in a report on Sunday, August 21st. Leerink Swann cut shares of Cerulean Pharma from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $8.00 to $1.50 in a report on Thursday, August 18th. Wedbush cut shares of Cerulean Pharma from an “outperform” rating to a “neutral” rating in a report on Thursday, August 18th. Finally, Janney Montgomery Scott cut shares of Cerulean Pharma from a “buy” rating to a “neutral” rating in a report on Thursday, August 18th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $7.78.
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Shares of Cerulean Pharma (NASDAQ:CERU) traded down 2.4083% on Tuesday, hitting $0.6808. 316,626 shares of the company traded hands. The stock’s 50-day moving average price is $0.96 and its 200-day moving average price is $2.14. The company’s market capitalization is $18.64 million. Cerulean Pharma has a 12 month low of $0.67 and a 12 month high of $4.33.
Cerulean Pharma (NASDAQ:CERU) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.08. On average, equities analysts predict that Cerulean Pharma will post ($1.58) earnings per share for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Cerulean Pharma by 43.8% in the second quarter. Vanguard Group Inc. now owns 542,631 shares of the company’s stock valued at $1,151,000 after buying an additional 165,181 shares during the last quarter. Bridgeway Capital Management Inc. increased its stake in Cerulean Pharma by 97.4% in the second quarter. Bridgeway Capital Management Inc. now owns 202,623 shares of the company’s stock valued at $430,000 after buying an additional 100,000 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Cerulean Pharma by 33.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 62,251 shares of the company’s stock valued at $169,000 after buying an additional 15,525 shares during the period. Institutional investors and hedge funds own 33.19% of the company’s stock.
Cerulean Pharma Company Profile
Cerulean Pharma Inc is a clinical-stage, oncology-focused company. The Company applies its Dynamic Tumor Targeting platform to develop differentiated therapies. Its platform utilizes nanoparticle-drug conjugates (NDCs), which consist of polymers that are covalently linked to anti-cancer therapeutics or payloads.
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