Cascadian Therapeutics, Inc. (CASC) Stock Rating Upgraded by Zacks Investment Research
Cascadian Therapeutics, Inc. (NASDAQ:CASC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm presently has a $4.50 price objective on the biopharmaceutical company’s stock. Zacks Investment Research‘s price target points to a potential upside of 17.49% from the stock’s previous close.
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. “
Several other brokerages have also issued reports on CASC. Cowen and Company reiterated a “buy” rating on shares of Cascadian Therapeutics in a research note on Wednesday, August 9th. Barclays PLC assumed coverage on shares of Cascadian Therapeutics in a research note on Wednesday, September 6th. They issued an “underweight” rating and a $4.00 price target on the stock. ValuEngine lowered shares of Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $4.00 price target on shares of Cascadian Therapeutics in a research note on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Cascadian Therapeutics has a consensus rating of “Hold” and an average price target of $5.63.
Shares of Cascadian Therapeutics (NASDAQ CASC) opened at $3.83 on Monday. Cascadian Therapeutics has a 52 week low of $3.18 and a 52 week high of $7.38.
Cascadian Therapeutics (NASDAQ:CASC) last issued its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.01. During the same quarter last year, the business earned ($0.09) earnings per share. analysts expect that Cascadian Therapeutics will post -1.27 earnings per share for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Cascadian Therapeutics by 423.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 511,899 shares of the biopharmaceutical company’s stock worth $2,094,000 after purchasing an additional 414,019 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Cascadian Therapeutics by 6,622.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 89,413 shares of the biopharmaceutical company’s stock worth $367,000 after purchasing an additional 88,083 shares during the last quarter. P.A.W. Capital Corp acquired a new position in shares of Cascadian Therapeutics during the 3rd quarter worth about $982,000. California State Teachers Retirement System acquired a new position in shares of Cascadian Therapeutics during the 2nd quarter worth about $226,000. Finally, State Street Corp increased its stake in shares of Cascadian Therapeutics by 1,113.7% during the 2nd quarter. State Street Corp now owns 411,299 shares of the biopharmaceutical company’s stock worth $1,527,000 after purchasing an additional 377,410 shares during the last quarter. Institutional investors own 83.03% of the company’s stock.
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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