Zacks Investment Research upgraded shares of Celsion Corporation (NASDAQ:CLSN) from a hold rating to a buy rating in a report released on Tuesday morning. They currently have $1.50 price objective on the biotechnology company’s stock.

According to Zacks, “Celsion is dedicated to the development and commercialization of oncology drugs including tumor-targeting treatments using focused heat energy in combination with heat activated drug delivery systems. Celsion has research, license or commercialization agreements with leading institutions such as the National Institutes of Health, Duke University Medical Center, University of Hong Kong, North Shore Long Island Jewish Health System. “

Several other research analysts also recently weighed in on CLSN. ValuEngine upgraded Celsion Corporation from a sell rating to a hold rating in a research note on Wednesday, May 31st. Maxim Group restated a hold rating on shares of Celsion Corporation in a research note on Thursday, June 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $24.88.

Shares of Celsion Corporation (NASDAQ:CLSN) opened at 1.33 on Tuesday. Celsion Corporation has a 52 week low of $1.24 and a 52 week high of $19.32. The firm has a 50-day moving average of $1.62 and a 200 day moving average of $1.06. The firm’s market cap is $11.11 million.

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A hedge fund recently raised its stake in Celsion Corporation stock. Renaissance Technologies LLC boosted its position in shares of Celsion Corporation (NASDAQ:CLSN) by 100.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,375,147 shares of the biotechnology company’s stock after buying an additional 690,349 shares during the period. Renaissance Technologies LLC owned approximately 2.48% of Celsion Corporation worth $397,000 at the end of the most recent quarter. Institutional investors own 7.47% of the company’s stock.

About Celsion Corporation

Celsion Corporation is an oncology drug development company. The Company’s product candidate is ThermoDox, a heat-activated liposomal encapsulation of doxorubicin, which is in Phase III clinical trial for treatment of primary liver cancer (the OPTIMA Study) and a Phase II clinical trial for treatment of recurrent chest wall breast cancer (the DIGNITY Study).

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