Zacks Investment Research downgraded shares of Cascadian Therapeutics (NASDAQ:CASC) from a hold rating to a sell rating in a research report sent to investors on Tuesday, January 9th.
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. “
Separately, Cantor Fitzgerald reissued a hold rating and set a $4.00 target price on shares of Cascadian Therapeutics in a report on Monday, September 11th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cascadian Therapeutics presently has a consensus rating of Hold and a consensus price target of $5.63.
Cascadian Therapeutics (NASDAQ CASC) remained flat at $$9.96 during trading hours on Tuesday. The company’s stock had a trading volume of 1,583,175 shares, compared to its average volume of 1,537,249. Cascadian Therapeutics has a one year low of $3.18 and a one year high of $10.21. The firm has a market capitalization of $504.17, a price-to-earnings ratio of -7.38 and a beta of 3.96.
Cascadian Therapeutics (NASDAQ:CASC) last posted its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.28) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.01. During the same quarter last year, the company earned ($0.09) EPS. research analysts expect that Cascadian Therapeutics will post -1.27 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CASC. Schwab Charles Investment Management Inc. purchased a new position in Cascadian Therapeutics in the second quarter valued at $225,000. Rhumbline Advisers purchased a new stake in shares of Cascadian Therapeutics during the second quarter worth about $143,000. State of Wisconsin Investment Board purchased a new stake in shares of Cascadian Therapeutics during the second quarter worth about $104,000. Bank of New York Mellon Corp increased its stake in shares of Cascadian Therapeutics by 649.9% during the second quarter. Bank of New York Mellon Corp now owns 154,575 shares of the biopharmaceutical company’s stock worth $574,000 after purchasing an additional 133,962 shares in the last quarter. Finally, Teachers Advisors LLC purchased a new stake in shares of Cascadian Therapeutics during the second quarter worth about $252,000. 80.33% of the stock is owned by institutional investors.
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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.
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