Cerulean Pharma Inc. (CERU) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Cerulean Pharma Inc. (NASDAQ:CERU) from a hold rating to a buy rating in a research report report published on Wednesday. They currently have $1.00 price target on the stock.
According to Zacks, “Cerulean Pharma Inc. is a clinical-stage oncology-focused company. The Company manufactures therapeutics in the areas of oncology, cardiovascular, autoimmune, and inflammatory diseases as well as tumor cells. Cerulean Pharma Inc. is based in Cambridge, Massachusetts. “
Other analysts have also recently issued research reports about the stock. Leerink Swann reiterated a buy rating on shares of Cerulean Pharma in a research note on Sunday, June 26th. Roth Capital restated a buy rating and set a $2.50 target price (down from $9.00) on shares of Cerulean Pharma in a report on Thursday, August 18th. Canaccord Genuity restated a buy rating and set a $20.00 target price (down from $29.00) on shares of Cerulean Pharma in a report on Sunday, August 21st. Janney Montgomery Scott downgraded shares of Cerulean Pharma from a buy rating to a neutral rating in a report on Thursday, August 18th. Finally, Wedbush downgraded shares of Cerulean Pharma from an outperform rating to a neutral rating in a report on Thursday, August 18th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $7.78.
Cerulean Pharma (NASDAQ:CERU) traded down 0.7100% on Wednesday, reaching $0.9929. 78,811 shares of the company were exchanged. The stock has a 50-day moving average price of $1.08 and a 200 day moving average price of $2.26. Cerulean Pharma has a 52 week low of $0.92 and a 52 week high of $4.33. The stock’s market capitalization is $27.19 million.
Cerulean Pharma (NASDAQ:CERU) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.40) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.08. Analysts forecast that Cerulean Pharma will post ($1.58) earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bridgeway Capital Management Inc. boosted its position in shares of Cerulean Pharma by 97.4% in the second quarter. Bridgeway Capital Management Inc. now owns 202,623 shares of the company’s stock worth $430,000 after buying an additional 100,000 shares during the period. Vanguard Group Inc. boosted its position in shares of Cerulean Pharma by 43.8% in the second quarter. Vanguard Group Inc. now owns 542,631 shares of the company’s stock worth $1,151,000 after buying an additional 165,181 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of Cerulean Pharma by 33.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 62,251 shares of the company’s stock worth $169,000 after buying an additional 15,525 shares during the period. 33.18% of the stock is currently owned by hedge funds and other institutional investors.
Cerulean Pharma Company Profile
Cerulean Pharma Inc is a clinical-stage, oncology-focused company. The Company applies its Dynamic Tumor Targeting platform to develop differentiated therapies. Its platform utilizes nanoparticle-drug conjugates (NDCs), which consist of polymers that are covalently linked to anti-cancer therapeutics or payloads.
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