Cascadian Therapeutics, Inc. (NASDAQ:CASC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage currently has a $4.50 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price points to a potential upside of 8.70% from the company’s current price.

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. “

A number of other equities analysts have also recently issued reports on CASC. ValuEngine cut shares of Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Cantor Fitzgerald reiterated a “hold” rating and set a $4.00 price objective on shares of Cascadian Therapeutics in a research report on Wednesday, May 10th. Cowen and Company reiterated a “buy” rating on shares of Cascadian Therapeutics in a research report on Tuesday, May 9th. Finally, BTIG Research began coverage on shares of Cascadian Therapeutics in a research report on Friday, April 21st. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. Cascadian Therapeutics currently has an average rating of “Buy” and an average target price of $6.17.

Cascadian Therapeutics (NASDAQ CASC) traded up 2.99% during mid-day trading on Monday, hitting $4.14. 418,469 shares of the stock traded hands. The firm’s market cap is $203.83 million. The firm’s 50-day moving average price is $3.92 and its 200-day moving average price is $4.18. Cascadian Therapeutics has a 52 week low of $3.18 and a 52 week high of $10.98.

Cascadian Therapeutics (NASDAQ:CASC) last released its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.09. On average, equities analysts forecast that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in CASC. NEA Management Company LLC boosted its position in shares of Cascadian Therapeutics by 405.9% in the first quarter. NEA Management Company LLC now owns 9,064,575 shares of the biopharmaceutical company’s stock valued at $37,527,000 after buying an additional 7,272,909 shares during the period. Baupost Group LLC MA boosted its position in shares of Cascadian Therapeutics by 109.3% in the first quarter. Baupost Group LLC MA now owns 8,721,079 shares of the biopharmaceutical company’s stock valued at $36,105,000 after buying an additional 4,554,413 shares during the period. Redmile Group LLC acquired a new position in shares of Cascadian Therapeutics during the first quarter valued at about $16,860,000. Vanguard Group Inc. boosted its position in shares of Cascadian Therapeutics by 116.7% in the first quarter. Vanguard Group Inc. now owns 1,423,843 shares of the biopharmaceutical company’s stock valued at $5,895,000 after buying an additional 766,725 shares during the period. Finally, Sphera Funds Management LTD. acquired a new position in shares of Cascadian Therapeutics during the first quarter valued at about $2,406,000. Hedge funds and other institutional investors own 82.70% of the company’s stock.

About Cascadian Therapeutics

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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