Cascadian Therapeutics Inc (CASC) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Cascadian Therapeutics Inc (NASDAQ:CASC) have earned a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $6.00.

A number of research analysts recently weighed in on the stock. BidaskClub raised shares of Cascadian Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 31st. ValuEngine raised shares of Cascadian Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 31st. Raymond James Financial lowered shares of Cascadian Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 31st. Finally, Zacks Investment Research lowered shares of Cascadian Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Unterberg Capital LLC purchased a new position in Cascadian Therapeutics in the 4th quarter worth approximately $370,000. BlackRock Inc. lifted its stake in Cascadian Therapeutics by 35.9% in the 4th quarter. BlackRock Inc. now owns 2,729,571 shares of the biopharmaceutical company’s stock worth $10,100,000 after purchasing an additional 720,462 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in Cascadian Therapeutics in the 4th quarter worth approximately $567,000. Alps Advisors Inc. purchased a new position in Cascadian Therapeutics in the 4th quarter worth approximately $207,000. Finally, SG Americas Securities LLC lifted its stake in Cascadian Therapeutics by 194.7% in the 4th quarter. SG Americas Securities LLC now owns 38,541 shares of the biopharmaceutical company’s stock worth $143,000 after purchasing an additional 25,464 shares in the last quarter. 80.35% of the stock is currently owned by institutional investors and hedge funds.

Cascadian Therapeutics (NASDAQ:CASC) opened at $9.99 on Friday. The firm has a market cap of $505.18, a PE ratio of -7.40 and a beta of 3.96. Cascadian Therapeutics has a 12 month low of $3.18 and a 12 month high of $10.21.

Cascadian Therapeutics (NASDAQ:CASC) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.01. During the same quarter in the previous year, the business earned ($0.09) earnings per share. analysts predict that Cascadian Therapeutics will post -1.27 EPS for the current year.

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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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