Cascadian Therapeutics, Inc. (NASDAQ:CASC) shares rose 6.9% on Wednesday . The stock traded as high as $4.55 and last traded at $4.51. Approximately 628,243 shares were traded during mid-day trading, an increase of 103% from the average daily volume of 309,775 shares. The stock had previously closed at $4.22.

CASC has been the subject of a number of analyst reports. Cowen and Company reaffirmed a “buy” rating on shares of Cascadian Therapeutics in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Cascadian Therapeutics from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a report on Monday, July 17th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $4.00 target price on shares of Cascadian Therapeutics in a report on Thursday, August 31st. ValuEngine lowered shares of Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Finally, Barclays PLC initiated coverage on shares of Cascadian Therapeutics in a report on Wednesday, September 6th. They set an “underweight” rating and a $4.00 target price for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $5.63.

The firm’s market capitalization is $227.99 million. The company has a 50 day moving average price of $3.78 and a 200-day moving average price of $3.91.

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 Thomson Reuters’ consensus estimate of ($0.36) by $0.06. During the same quarter in the prior year, the company posted ($1.57) EPS. On average, equities research analysts forecast that Cascadian Therapeutics, Inc. will post $5.02 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new position in shares of Cascadian Therapeutics during the second quarter valued at $226,000. State Street Corp raised its stake in shares of Cascadian Therapeutics by 1,113.7% during the second quarter. State Street Corp now owns 411,299 shares of the biopharmaceutical company’s stock valued at $1,527,000 after acquiring an additional 377,410 shares during the last quarter. OxFORD Asset Management LLP raised its stake in shares of Cascadian Therapeutics by 11.8% during the second quarter. OxFORD Asset Management LLP now owns 181,323 shares of the biopharmaceutical company’s stock valued at $674,000 after acquiring an additional 19,131 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Cascadian Therapeutics by 203.7% during the second quarter. Dimensional Fund Advisors LP now owns 97,880 shares of the biopharmaceutical company’s stock valued at $364,000 after acquiring an additional 65,651 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Cascadian Therapeutics by 24.1% during the second quarter. Vanguard Group Inc. now owns 1,767,681 shares of the biopharmaceutical company’s stock valued at $6,567,000 after acquiring an additional 343,838 shares during the last quarter. 82.55% of the stock is owned by hedge funds and other institutional investors.

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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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