Cascadian Therapeutics, Inc. (CASC) Given Consensus Recommendation of “Hold” by Analysts
Cascadian Therapeutics, Inc. (NASDAQ:CASC) has received a consensus rating of “Hold” from the seven analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $6.00.
A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald reaffirmed a “hold” rating and set a $4.00 price target on shares of Cascadian Therapeutics in a research note on Monday. ValuEngine downgraded shares of Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. 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 reaffirmed a “buy” rating on shares of Cascadian Therapeutics in a research note on Wednesday, August 9th. Finally, Barclays PLC assumed coverage on shares of Cascadian Therapeutics in a research note on Wednesday, September 6th. They set an “underweight” rating and a $4.00 price target on the stock.
Hedge funds have recently bought and sold shares of the business. Segantii Capital Management Ltd bought a new position in Cascadian Therapeutics during the first quarter valued at $243,000. Baupost Group LLC MA increased its position in Cascadian Therapeutics by 109.3% during the first quarter. Baupost Group LLC MA now owns 8,721,079 shares of the biopharmaceutical company’s stock valued at $36,105,000 after acquiring an additional 4,554,413 shares during the last quarter. Citadel Advisors LLC bought a new position in Cascadian Therapeutics during the first quarter valued at $142,000. Sabby Management LLC bought a new position in Cascadian Therapeutics during the first quarter valued at $669,000. Finally, Redmile Group LLC bought a new position in Cascadian Therapeutics during the first quarter valued at $16,860,000. Institutional investors and hedge funds own 82.55% of the company’s stock.
Shares of Cascadian Therapeutics (NASDAQ CASC) opened at 3.53 on Wednesday. The company’s market cap is $178.45 million. The firm has a 50-day moving average of $3.76 and a 200-day moving average of $3.94. Cascadian Therapeutics has a one year low of $3.18 and a one 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) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.06. During the same quarter in the previous year, the company posted ($1.57) EPS. Equities research analysts forecast that Cascadian Therapeutics will post $5.02 EPS for the current fiscal year.
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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