Cascadian Therapeutics Inc (CASC) Cut to “Hold” at Zacks Investment Research
Cascadian Therapeutics Inc (NASDAQ:CASC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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. “
Other research analysts have also recently issued reports about the stock. Jefferies Group LLC reiterated a “buy” rating and set a $10.00 price objective (down from $15.00) on shares of Cascadian Therapeutics in a report on Saturday, March 11th. Cantor Fitzgerald reiterated a “hold” rating and set a $4.00 price objective on shares of Cascadian Therapeutics in a report on Wednesday, May 10th. BTIG Research assumed coverage on shares of Cascadian Therapeutics in a report on Friday, April 21st. They set a “buy” rating for the company. Finally, Cowen and Company reiterated a “buy” rating on shares of Cascadian Therapeutics in a report on Tuesday, May 9th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Cascadian Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $6.25.
Shares of Cascadian Therapeutics (NASDAQ:CASC) traded down 0.63% during trading on Friday, reaching $4.73. 429,732 shares of the company were exchanged. The firm’s market cap is $232.88 million. The stock’s 50-day moving average is $4.09 and its 200-day moving average is $3.89. Cascadian Therapeutics has a 52-week low of $3.49 and a 52-week high of $10.98.
Cascadian Therapeutics (NASDAQ:CASC) last posted its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.09. Equities research analysts predict that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Perkins Capital Management Inc. boosted its position in shares of Cascadian Therapeutics by 6.4% in the first quarter. Perkins Capital Management Inc. now owns 48,129 shares of the biopharmaceutical company’s stock worth $199,000 after buying an additional 2,887 shares in the last quarter. BlueCrest Capital Management Ltd acquired a new position in shares of Cascadian Therapeutics during the first quarter worth about $122,000. Dimensional Fund Advisors LP acquired a new position in shares of Cascadian Therapeutics during the first quarter worth about $133,000. Citadel Advisors LLC acquired a new position in shares of Cascadian Therapeutics during the first quarter worth about $142,000. Finally, Bank of America Corp DE boosted its position in shares of Cascadian Therapeutics by 2,316.5% in the first quarter. Bank of America Corp DE now owns 37,528 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 35,975 shares in the last quarter.
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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