Cascadian Therapeutics Inc. (CASC) Downgraded by Zacks Investment Research to “Sell”
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. “
A number of other research firms also recently weighed in on CASC. Cowen and Company reaffirmed a buy rating on shares of Cascadian Therapeutics in a research note on Monday. Cantor Fitzgerald reissued a hold rating and issued a $2.00 price objective on shares of Cascadian Therapeutics in a research note on Wednesday, June 15th. Finally, Jefferies Group reissued a buy rating on shares of Cascadian Therapeutics in a research note on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $3.20.
Cascadian Therapeutics (NASDAQ:CASC) traded down 0.75% during mid-day trading on Tuesday, reaching $1.33. 87,110 shares of the company were exchanged. Cascadian Therapeutics has a 12 month low of $0.82 and a 12 month high of $3.75. The company’s market cap is $179.96 million. The stock’s 50-day moving average is $1.33 and its 200-day moving average is $1.18.
Cascadian Therapeutics (NASDAQ:CASC) last posted its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.14. During the same period in the prior year, the firm earned ($0.11) earnings per share. Equities analysts expect that Cascadian Therapeutics will post $5.02 earnings per share for the current year.
In other news, insider Scott Dunseth Myers acquired 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were bought at an average price of $1.15 per share, with a total value of $51,750.00. Following the acquisition, the insider now owns 107,500 shares of the company’s stock, valued at $123,625. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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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