Zacks Investment Research Lowers Cascadian Therapeutics, Inc. (CASC) to Hold
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.
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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.
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