Cascadian Therapeutics Inc. (CASC) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of Cascadian Therapeutics Inc. (NASDAQ:CASC) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The firm currently has $2.00 price target on the biopharmaceutical company’s stock.
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. “
Other equities analysts have also issued research reports about the stock. Jefferies Group reaffirmed a buy rating and set a $4.00 target price on shares of Cascadian Therapeutics in a report on Monday, June 6th. Cowen and Company reissued a buy rating on shares of Cascadian Therapeutics in a report on Wednesday, June 15th. Finally, Cantor Fitzgerald reissued a hold rating and issued a $2.00 price target on shares of Cascadian Therapeutics in a report on Wednesday, June 15th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Cascadian Therapeutics has an average rating of Buy and an average price target of $3.20.
Cascadian Therapeutics (NASDAQ:CASC) traded down 5.95% during midday trading on Tuesday, hitting $1.58. 560,568 shares of the company were exchanged. Cascadian Therapeutics has a 1-year low of $0.82 and a 1-year high of $3.75. The stock has a 50 day moving average of $1.29 and a 200 day moving average of $1.17. The firm’s market capitalization is $213.79 million.
Cascadian Therapeutics (NASDAQ:CASC) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.14. During the same quarter in the prior year, the company earned ($0.11) EPS. On average, equities analysts predict that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.
In related news, insider Scott Dunseth Myers acquired 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was purchased at an average cost of $1.15 per share, with a total value of $51,750.00. Following the completion of the acquisition, the insider now directly owns 107,500 shares of the company’s stock, valued at $123,625. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 19.40% 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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