Cascadian Therapeutics, Inc. (CASC) Receives “Buy” Rating from Cowen and Company
Cascadian Therapeutics, Inc. (NASDAQ:CASC)‘s stock had its “buy” rating restated by Cowen and Company in a report released on Wednesday.
Other research analysts have also recently issued research reports about the company. ValuEngine cut Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded Cascadian Therapeutics from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a report on Monday, July 17th. Cantor Fitzgerald restated a “hold” rating and set a $4.00 price target on shares of Cascadian Therapeutics in a report on Wednesday, May 10th. Finally, BTIG Research started coverage on Cascadian Therapeutics in a report on Friday, April 21st. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $6.17.
Shares of Cascadian Therapeutics (CASC) opened at 3.85 on Wednesday. The firm’s market capitalization is $189.55 million. Cascadian Therapeutics has a 52 week low of $0.84 and a 52 week high of $6.72. The stock has a 50 day moving average of $3.93 and a 200-day moving average of $4.02.
Cascadian Therapeutics (NASDAQ:CASC) last announced its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.09. Equities analysts anticipate that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.
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Institutional investors have recently modified their holdings of the stock. State of Wisconsin Investment Board acquired a new position in shares of Cascadian Therapeutics during the second quarter valued at about $104,000. BlueCrest Capital Management Ltd acquired a new position in shares of Cascadian Therapeutics during the first quarter valued at about $122,000. Citadel Advisors LLC acquired a new position in shares of Cascadian Therapeutics during the first quarter valued at about $142,000. Bank of America Corp DE raised its position in shares of 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 valued at $155,000 after buying an additional 35,975 shares during the period. Finally, Rhumbline Advisers acquired a new position in shares of Cascadian Therapeutics during the second quarter valued at about $143,000. 82.60% of the stock is currently owned by hedge funds and other institutional investors.
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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