Cascadian Therapeutics Inc (CASC) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Cascadian Therapeutics Inc (NASDAQ:CASC) have earned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $7.00.

Several analysts have recently commented on CASC shares. Raymond James Financial cut Cascadian Therapeutics from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 31st. Zacks Investment Research cut Cascadian Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. BidaskClub cut Cascadian Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 7th. Cantor Fitzgerald set a $10.00 target price on Cascadian Therapeutics and gave the stock a “hold” rating in a report on Friday, March 9th. Finally, ValuEngine upgraded Cascadian Therapeutics from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 31st.

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Cascadian Therapeutics stock remained flat at $$10.02 during mid-day trading on Friday. Cascadian Therapeutics has a 1-year low of $3.18 and a 1-year high of $10.21.

Several hedge funds have recently made changes to their positions in CASC. Northern Trust Corp boosted its holdings in Cascadian Therapeutics by 415.5% in the second quarter. Northern Trust Corp now owns 382,469 shares of the biopharmaceutical company’s stock valued at $1,420,000 after acquiring an additional 308,270 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Cascadian Therapeutics by 203.7% in the second quarter. Dimensional Fund Advisors LP now owns 97,880 shares of the biopharmaceutical company’s stock valued at $364,000 after acquiring an additional 65,651 shares during the last quarter. State Street Corp boosted its holdings in Cascadian Therapeutics by 1,113.7% in the second 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 during the last quarter. California State Teachers Retirement System bought a new position in Cascadian Therapeutics in the second quarter valued at about $226,000. Finally, JPMorgan Chase & Co. boosted its holdings in Cascadian Therapeutics by 6,622.8% in the third quarter. JPMorgan Chase & Co. now owns 89,413 shares of the biopharmaceutical company’s stock valued at $367,000 after acquiring an additional 88,083 shares during the last quarter. Institutional investors own 81.38% of the company’s stock.

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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.

Analyst Recommendations for Cascadian Therapeutics (NASDAQ:CASC)

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