Cascadian Therapeutics, Inc. (NASDAQ:CASC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

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 research analysts have also weighed in on CASC. Cowen and Company reissued a “buy” rating on shares of Cascadian Therapeutics in a research note on Wednesday, August 9th. ValuEngine cut shares of Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Barclays PLC began coverage on shares of Cascadian Therapeutics in a report on Wednesday, September 6th. They issued an “underweight” rating and a $4.00 target price on the stock. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $4.00 price objective on shares of Cascadian Therapeutics in a research report on Thursday, August 31st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. Cascadian Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $5.63.

Shares of Cascadian Therapeutics (CASC) traded down $0.08 during midday trading on Tuesday, hitting $3.98. 199,500 shares of the stock were exchanged, compared to its average volume of 295,949. Cascadian Therapeutics has a 1-year low of $3.18 and a 1-year high of $7.80.

Cascadian Therapeutics (NASDAQ:CASC) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.01. During the same quarter last year, the firm earned ($0.09) EPS. sell-side analysts anticipate that Cascadian Therapeutics will post -1.25 EPS for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in 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 acquiring an additional 414,019 shares during the period. JPMorgan Chase & Co. raised 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 in the last quarter. P.A.W. Capital Corp bought a new position in shares of Cascadian Therapeutics in the 3rd quarter valued at approximately $982,000. California State Teachers Retirement System bought a new position in shares of Cascadian Therapeutics in the 2nd quarter valued at approximately $226,000. Finally, State Street Corp raised its stake in shares of Cascadian Therapeutics by 1,113.7% in the 2nd 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 in the last quarter. Institutional investors and hedge funds 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.

Analyst Recommendations for Cascadian Therapeutics (NASDAQ:CASC)

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