Cascadian Therapeutics, Inc. (CASC) Stock Rating Lowered by Zacks Investment Research

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

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. “

CASC has been the topic of several other research reports. Cantor Fitzgerald restated a “hold” rating and issued a $4.00 price objective on shares of Cascadian Therapeutics in a research report on Monday, September 11th. ValuEngine lowered Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Cowen and Company restated a “buy” rating on shares of Cascadian Therapeutics in a research report on Wednesday, August 9th. Finally, Barclays PLC began coverage on Cascadian Therapeutics in a research report on Wednesday, September 6th. They issued an “underweight” rating and a $4.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $5.63.

Shares of Cascadian Therapeutics (CASC) opened at 4.28 on Wednesday. Cascadian Therapeutics has a 1-year low of $3.18 and a 1-year high of $8.82. The company’s market cap is $216.37 million. The firm’s 50-day moving average is $3.91 and its 200-day moving average is $3.94.

Cascadian Therapeutics (NASDAQ:CASC) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.06. During the same period in the previous year, the business posted ($1.57) earnings per share. On average, equities analysts forecast that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.

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Several large investors have recently made changes to their positions in CASC. Vanguard Group Inc. lifted its position in shares of Cascadian Therapeutics by 116.7% during the 1st quarter. Vanguard Group Inc. now owns 1,423,843 shares of the biopharmaceutical company’s stock valued at $5,895,000 after buying an additional 766,725 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cascadian Therapeutics by 118.8% during the 1st quarter. Geode Capital Management LLC now owns 252,934 shares of the biopharmaceutical company’s stock valued at $1,047,000 after buying an additional 137,350 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of Cascadian Therapeutics during the 1st quarter valued at approximately $142,000. Sabby Management LLC purchased a new position in shares of Cascadian Therapeutics during the 1st quarter valued at approximately $669,000. Finally, Bank of America Corp DE lifted its position in shares of Cascadian Therapeutics by 2,316.5% during the 1st quarter. Bank of America Corp DE now owns 37,528 shares of the biopharmaceutical company’s stock valued at $155,000 after buying an additional 35,975 shares in the last quarter. Hedge funds and other institutional investors own 82.55% of the company’s stock.

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.

Analyst Recommendations for Cascadian Therapeutics (NASDAQ:CASC)

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