Celsion Co. (CLSN) Announces Earnings Results, Misses Estimates By $0.03 EPS
Celsion Co. (NASDAQ:CLSN) issued its quarterly earnings results on Friday. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by $0.03. Celsion had a negative net margin of 4,390.50% and a negative return on equity of 139.38%. The firm had revenue of $0.13 million for the quarter, compared to the consensus estimate of $0.13 million.
Shares of Celsion (NASDAQ:CLSN) opened at 0.24 on Monday. Celsion has a 12-month low of $0.19 and a 12-month high of $1.60. The firm’s 50-day moving average price is $0.27 and its 200-day moving average price is $0.45. The firm’s market capitalization is $13.31 million.
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A hedge fund recently raised its stake in Celsion stock. Renaissance Technologies LLC boosted its position in shares of Celsion Co. (NASDAQ:CLSN) by 100.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,375,147 shares of the biotechnology company’s stock after buying an additional 690,349 shares during the period. Renaissance Technologies LLC owned 2.48% of Celsion worth $397,000 as of its most recent SEC filing. 10.74% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Celsion from a “sell” rating to a “buy” rating and set a $0.50 price target on the stock in a research note on Friday, January 20th. Maxim Group reaffirmed a “hold” rating on shares of Celsion in a report on Thursday, March 16th. Rodman & Renshaw reaffirmed a “buy” rating and set a $1.50 price objective on shares of Celsion in a report on Monday, April 10th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $1.50 price objective on shares of Celsion in a report on Monday, April 10th.
Celsion Corporation is an oncology drug development company. The Company’s product candidate is ThermoDox, a heat-activated liposomal encapsulation of doxorubicin, which is in Phase III clinical trial for treatment of primary liver cancer (the OPTIMA Study) and a Phase II clinical trial for treatment of recurrent chest wall breast cancer (the DIGNITY Study).
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