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.
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.
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