Cascadian Therapeutics, Inc. (CASC) Receives Average Rating of “Hold” from Brokerages
Shares of Cascadian Therapeutics, Inc. (NASDAQ:CASC) have been assigned an average rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $7.00.
Several research firms have commented on CASC. Cantor Fitzgerald reissued a “hold” rating and set a $4.00 price target on shares of Cascadian Therapeutics in a research note on Wednesday, May 10th. Zacks Investment Research downgraded shares of Cascadian Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Cowen and Company reissued a “buy” rating on shares of Cascadian Therapeutics in a research note on Wednesday, August 9th. ValuEngine downgraded shares of Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Finally, BTIG Research began coverage on shares of Cascadian Therapeutics in a research note on Friday, April 21st. They set a “buy” rating on the stock.
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Shares of Cascadian Therapeutics (NASDAQ:CASC) opened at 3.56 on Friday. The firm’s 50-day moving average is $3.89 and its 200-day moving average is $4.01. The company’s market capitalization is $179.97 million. Cascadian Therapeutics has a 12-month low of $3.18 and a 12-month high of $10.98.
Cascadian Therapeutics (NASDAQ:CASC) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. During the same quarter in the previous year, the company earned ($1.57) earnings per share. On average, equities analysts predict that Cascadian Therapeutics will post $5.02 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of CASC. BlueCrest Capital Management Ltd acquired a new position in Cascadian Therapeutics during the first quarter valued at approximately $122,000. Bank of America Corp DE increased its position in 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 valued at $155,000 after buying an additional 35,975 shares during the period. Sabby Management LLC acquired a new position in Cascadian Therapeutics during the first quarter valued at approximately $669,000. Citadel Advisors LLC acquired a new position in Cascadian Therapeutics during the first quarter valued at approximately $142,000. Finally, Geode Capital Management LLC increased its position in Cascadian Therapeutics by 118.8% in the first quarter. Geode Capital Management LLC now owns 252,934 shares of the biopharmaceutical company’s stock valued at $1,047,000 after buying an additional 137,350 shares during the period. 83.86% of the stock is currently owned by hedge funds and other institutional investors.
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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