Cascadian Therapeutics, Inc. (CASC) Stock Rating Lowered by Zacks Investment Research
Cascadian Therapeutics, Inc. (NASDAQ:CASC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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 research analysts have also commented on the stock. Cantor Fitzgerald restated a “hold” rating and set a $4.00 price target on shares of Cascadian Therapeutics in a research report on Monday, September 11th. Barclays PLC started coverage on shares of Cascadian Therapeutics in a research report on Wednesday, September 6th. They issued an “underweight” rating and a $4.00 target price for the company. ValuEngine lowered shares of Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, Cowen and Company reiterated a “buy” rating on shares of Cascadian Therapeutics in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $5.63.
Cascadian Therapeutics (NASDAQ:CASC) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.01. During the same quarter in the previous year, the business earned ($0.09) EPS. sell-side analysts anticipate that Cascadian Therapeutics will post -1.25 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of CASC. State of Wisconsin Investment Board purchased a new stake in Cascadian Therapeutics during the second quarter valued at about $104,000. New York State Common Retirement Fund purchased a new stake in Cascadian Therapeutics during the second quarter valued at about $136,000. Rhumbline Advisers purchased a new stake in Cascadian Therapeutics during the second quarter valued at about $143,000. BB&T Securities LLC purchased a new stake in Cascadian Therapeutics during the second quarter valued at about $143,000. Finally, Bank of America Corp DE boosted its position in Cascadian Therapeutics by 2,316.5% during 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. Institutional investors and hedge funds own 83.03% 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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