Zacks Investment Research Lowers Celsion Corporation (CLSN) to Hold

Zacks Investment Research cut shares of Celsion Corporation (NASDAQ:CLSN) from a buy rating to a hold rating in a research report sent to investors on Tuesday, October 17th.

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. “

Other research analysts have also issued reports about the company. Maxim Group restated a hold rating on shares of Celsion Corporation in a research report on Monday, August 7th. ValuEngine upgraded Celsion Corporation from a strong sell rating to a sell rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $12.63.

Shares of Celsion Corporation (NASDAQ:CLSN) opened at 2.31 on Tuesday. The company’s 50 day moving average is $2.71 and its 200-day moving average is $1.74. Celsion Corporation has a 1-year low of $0.19 and a 1-year high of $6.06. The stock’s market capitalization is $19.29 million.

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A hedge fund recently bought a new stake in Celsion Corporation stock. Sabby Management LLC bought a new stake in Celsion Corporation (NASDAQ:CLSN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 108,843 shares of the biotechnology company’s stock, valued at approximately $223,000. Sabby Management LLC owned about 1.30% of Celsion Corporation as of its most recent filing with the Securities and Exchange Commission (SEC). 7.46% of the stock is owned by institutional investors.

Celsion Corporation Company Profile

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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