FY2016 EPS Estimates for Cascadian Therapeutics Inc. (CASC) Cut by Jefferies Group
Cascadian Therapeutics Inc. (NASDAQ:CASC) – Research analysts at Jefferies Group reduced their FY2016 EPS estimates for shares of Cascadian Therapeutics in a research note issued to investors on Monday. Jefferies Group analyst G. Wang now anticipates that the firm will post earnings per share of ($0.33) for the year, down from their prior estimate of ($0.32). Jefferies Group has a “Buy” rating and a $3.00 price objective on the stock. Jefferies Group also issued estimates for Cascadian Therapeutics’ Q4 2016 earnings at ($0.09) EPS.
Cascadian Therapeutics (NASDAQ:CASC) last announced its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.01.
A number of other research firms have also weighed in on CASC. Zacks Investment Research upgraded shares of Cascadian Therapeutics from a “hold” rating to a “buy” rating and set a $2.00 price objective for the company in a research note on Tuesday, October 4th. Cowen and Company restated a “buy” rating on shares of Cascadian Therapeutics in a research note on Monday, October 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Cascadian Therapeutics currently has an average rating of “Hold” and an average target price of $3.00.
Shares of Cascadian Therapeutics (NASDAQ:CASC) opened at 1.12 on Thursday. The stock’s market capitalization is $151.55 million. The company’s 50 day moving average is $1.30 and its 200-day moving average is $1.17. Cascadian Therapeutics has a 52 week low of $0.82 and a 52 week high of $3.75.
Several hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC raised its stake in shares of Cascadian Therapeutics by 20.3% in the third quarter. ProShare Advisors LLC now owns 85,070 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 14,378 shares in the last quarter. KCG Holdings Inc. increased its position in Cascadian Therapeutics by 204.6% in the third quarter. KCG Holdings Inc. now owns 137,775 shares of the biopharmaceutical company’s stock worth $226,000 after buying an additional 92,549 shares during the last quarter. Northern Trust Corp increased its position in Cascadian Therapeutics by 23.3% in the third quarter. Northern Trust Corp now owns 162,455 shares of the biopharmaceutical company’s stock worth $267,000 after buying an additional 30,744 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in Cascadian Therapeutics by 1.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,849,475 shares of the biopharmaceutical company’s stock worth $3,033,000 after buying an additional 23,406 shares during the last quarter. Hedge funds and other institutional investors own 66.14% of the company’s stock.
In related news, insider Scott Dunseth Myers purchased 45,000 shares of Cascadian Therapeutics stock in a transaction dated Wednesday, August 17th. The stock was purchased at an average cost of $1.15 per share, for a total transaction of $51,750.00. Following the completion of the purchase, the insider now directly owns 107,500 shares of the company’s stock, valued at approximately $123,625. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 20.70% of the stock is currently owned by insiders.
About Cascadian Therapeutics
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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