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

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. “

A number of other analysts have also recently commented on the stock. Cowen and Company restated a “buy” rating on shares of Cascadian Therapeutics in a report on Wednesday. ValuEngine cut shares of Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Cantor Fitzgerald restated a “hold” rating and set a $4.00 target price on shares of Cascadian Therapeutics in a report on Wednesday, May 10th. Finally, BTIG Research began coverage on shares of Cascadian Therapeutics in a report on Friday, April 21st. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Cascadian Therapeutics has an average rating of “Hold” and an average price target of $6.17.

Cascadian Therapeutics (CASC) traded down 1.36% on Friday, hitting $3.64. 180,284 shares of the company’s stock were exchanged. The stock’s market cap is $179.25 million. The firm has a 50 day moving average price of $3.93 and a 200-day moving average price of $4.02. Cascadian Therapeutics has a 52-week low of $0.84 and a 52-week high of $6.72.

Cascadian Therapeutics (NASDAQ:CASC) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.30) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.06. During the same quarter in the prior year, the firm posted ($1.57) EPS. Analysts predict that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.

WARNING: “Zacks Investment Research Lowers Cascadian Therapeutics, Inc. (CASC) to Hold” was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this news story on another website, it was illegally stolen and reposted in violation of US and international copyright laws. The legal version of this news story can be accessed at https://www.watchlistnews.com/zacks-investment-research-lowers-cascadian-therapeutics-inc-casc-to-hold/1474332.html.

A number of institutional investors have recently made changes to their positions in the company. Perkins Capital Management Inc. boosted its position in shares of Cascadian Therapeutics by 6.4% in the first quarter. Perkins Capital Management Inc. now owns 48,129 shares of the biopharmaceutical company’s stock worth $199,000 after buying an additional 2,887 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Cascadian Therapeutics during the first quarter worth about $238,000. TFS Capital LLC purchased a new position in shares of Cascadian Therapeutics during the first quarter worth about $314,000. Oxford Asset Management boosted its position in shares of Cascadian Therapeutics by 32.9% in the first quarter. Oxford Asset Management now owns 162,192 shares of the biopharmaceutical company’s stock worth $671,000 after buying an additional 40,117 shares during the last quarter. Finally, NEA Management Company LLC boosted its position in shares of Cascadian Therapeutics by 405.9% in the first quarter. NEA Management Company LLC now owns 9,064,575 shares of the biopharmaceutical company’s stock worth $37,527,000 after buying an additional 7,272,909 shares during the last quarter. Institutional investors own 82.60% of the company’s stock.

About Cascadian Therapeutics

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.

Get a free copy of the Zacks research report on Cascadian Therapeutics (CASC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Cascadian Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cascadian Therapeutics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.