Equities researchers at Barclays PLC initiated coverage on shares of Cascadian Therapeutics, Inc. (NASDAQ:CASC) in a report released on Wednesday, MarketBeat Ratings reports. The firm set an “underweight” rating and a $4.00 price target on the biopharmaceutical company’s stock. Barclays PLC’s target price would suggest a potential upside of 11.42% from the company’s previous close.

Several other research analysts have also commented on CASC. Cowen and Company reiterated a “buy” rating on shares of Cascadian Therapeutics in a research report on Tuesday, May 9th. Cantor Fitzgerald reiterated a “hold” rating and issued a $4.00 price target on shares of Cascadian Therapeutics in a research report on Wednesday, May 10th. Zacks Investment Research lowered Cascadian Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Finally, ValuEngine lowered Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.63.

Cascadian Therapeutics (CASC) traded up 1.99% during midday trading on Wednesday, hitting $3.59. The stock had a trading volume of 260,616 shares. The company’s market capitalization is $181.49 million. The stock’s 50-day moving average is $3.77 and its 200-day moving average is $3.94. Cascadian Therapeutics has a 1-year low of $3.18 and a 1-year high of $10.98.

Cascadian Therapeutics (NASDAQ:CASC) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.06. During the same period in the previous year, the business posted ($1.57) earnings per share. Equities research analysts forecast that Cascadian Therapeutics will post $5.02 EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wisconsin Investment Board bought a new stake in Cascadian Therapeutics in the second quarter worth about $104,000. BlueCrest Capital Management Ltd bought a new stake in Cascadian Therapeutics in the first quarter worth about $122,000. Citadel Advisors LLC bought a new stake in Cascadian Therapeutics in the first quarter worth about $142,000. New York State Common Retirement Fund bought a new stake in Cascadian Therapeutics in the second quarter worth about $136,000. Finally, Bank of America Corp DE lifted its stake 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 worth $155,000 after purchasing an additional 35,975 shares during the last quarter. 82.55% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Cascadian Therapeutics (NASDAQ:CASC)

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