Zacks Investment Research Lowers Cerulean Pharma Inc. (CERU) to Hold
Cerulean Pharma Inc. (NASDAQ:CERU) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to 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. “
Several other brokerages also recently commented on CERU. Barclays PLC dropped their price objective on shares of Cerulean Pharma from $5.00 to $2.00 and set an “overweight” rating for the company in a research note on Tuesday, August 30th. Janney Montgomery Scott downgraded shares of Cerulean Pharma from a “buy” rating to a “neutral” rating in a research note on Thursday, August 18th. Wedbush downgraded shares of Cerulean Pharma from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 18th. Leerink Swann reaffirmed a “buy” rating on shares of Cerulean Pharma in a research note on Sunday, June 26th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $20.00 price target (down previously from $29.00) on shares of Cerulean Pharma in a research note on Sunday, August 21st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $7.78.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/zacks-investment-research-lowers-cerulean-pharma-inc-ceru-to-hold.html
Cerulean Pharma (NASDAQ:CERU) traded down 2.4083% during midday trading on Tuesday, reaching $0.6808. 316,626 shares of the company traded hands. Cerulean Pharma has a 12-month low of $0.67 and a 12-month high of $4.33. The company has a 50 day moving average of $0.96 and a 200-day moving average of $2.14. The stock’s market capitalization is $18.64 million.
Cerulean Pharma (NASDAQ:CERU) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.40) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.08. Equities analysts anticipate that Cerulean Pharma will post ($1.58) EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. boosted 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. Bridgeway Capital Management Inc. boosted 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 worth $430,000 after buying an additional 100,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Cerulean Pharma by 43.8% in the second quarter. Vanguard Group Inc. now owns 542,631 shares of the company’s stock worth $1,151,000 after buying an additional 165,181 shares during the last quarter. Institutional investors own 33.19% of the company’s stock.
About Cerulean Pharma
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cerulean Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerulean Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.