Cascadian Therapeutics, Inc. (NASDAQ:CASC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

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 equities analysts have also issued reports about the company. Barclays PLC assumed coverage on Cascadian Therapeutics in a report on Wednesday, September 6th. They set an “underweight” rating and a $4.00 price objective for the company. Cowen and Company reissued a “buy” rating on shares of Cascadian Therapeutics in a report on Wednesday, August 9th. Cantor Fitzgerald reissued a “hold” rating and set a $4.00 price objective on shares of Cascadian Therapeutics in a report on Monday, September 11th. Finally, ValuEngine lowered Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $5.63.

Shares of Cascadian Therapeutics (CASC) traded down 0.69% on Wednesday, hitting $4.34. The stock had a trading volume of 175,972 shares. The company has a 50-day moving average of $3.87 and a 200 day moving average of $3.93. The company’s market capitalization is $219.40 million. Cascadian Therapeutics has a 52 week low of $3.18 and a 52 week high of $8.82.

Cascadian Therapeutics (NASDAQ:CASC) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.06. During the same period in the previous year, the company earned ($1.57) EPS. On average, equities research analysts predict that Cascadian Therapeutics will post $5.02 EPS for the current year.

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Several institutional investors have recently bought and sold shares of the company. Perkins Capital Management Inc. boosted its holdings in shares of Cascadian Therapeutics by 8.3% in the second quarter. Perkins Capital Management Inc. now owns 52,129 shares of the biopharmaceutical company’s stock worth $194,000 after acquiring an additional 4,000 shares during the period. OxFORD Asset Management LLP boosted its holdings in shares of Cascadian Therapeutics by 11.8% in the second quarter. OxFORD Asset Management LLP now owns 181,323 shares of the biopharmaceutical company’s stock worth $674,000 after acquiring an additional 19,131 shares during the period. GRT Capital Partners L.L.C. boosted its holdings in shares of Cascadian Therapeutics by 50.5% in the second quarter. GRT Capital Partners L.L.C. now owns 58,109 shares of the biopharmaceutical company’s stock worth $216,000 after acquiring an additional 19,500 shares during the period. State of Wisconsin Investment Board bought a new position in shares of Cascadian Therapeutics in the second quarter worth $104,000. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Cascadian Therapeutics in the first quarter worth $122,000. 82.55% of the stock is owned by hedge funds and other institutional investors.

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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