Tokai Pharmaceuticals Inc. (NASDAQ:TKAI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Tokai Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. It is focused on developing therapies for prostate cancer and other hormonally-driven diseases. The Company’s lead drug candidate includes galeterone, an oral small molecule drug candidate, which is in Phase II clinical trials for the treatment of castration resistant prostate cancer. Tokai Pharmaceuticals, Inc. is headquartered in Cambridge, Massachusetts. “

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus downgraded shares of Tokai Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Wells Fargo & Co. downgraded shares of Tokai Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 26th. BMO Capital Markets reissued a “market perform” rating and issued a $1.15 price target (down from $1.70) on shares of Tokai Pharmaceuticals in a research note on Wednesday, August 24th. William Blair downgraded shares of Tokai Pharmaceuticals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 26th. Finally, Janney Montgomery Scott downgraded shares of Tokai Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $13.63.

Analyst Recommendations for Tokai Pharmaceuticals (NASDAQ:TKAI)

Shares of Tokai Pharmaceuticals (NASDAQ:TKAI) opened at 1.07 on Wednesday. The firm has a 50-day moving average of $1.37 and a 200 day moving average of $3.57. Tokai Pharmaceuticals has a 52 week low of $0.73 and a 52 week high of $11.93. The firm’s market capitalization is $24.22 million.

A number of large investors have recently made changes to their positions in the company. Emerald Acquisition Ltd. acquired a new stake in shares of Tokai Pharmaceuticals during the third quarter valued at $150,000. BlackRock Institutional Trust Company N.A. boosted its position in Tokai Pharmaceuticals by 9.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 135,053 shares of the biopharmaceutical company’s stock valued at $207,000 after buying an additional 11,197 shares during the period. JPMorgan Chase & Co. boosted its position in Tokai Pharmaceuticals by 5.1% in the third quarter. JPMorgan Chase & Co. now owns 102,450 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 5,008 shares during the period. Bridgeway Capital Management Inc. boosted its position in Tokai Pharmaceuticals by 66.7% in the second quarter. Bridgeway Capital Management Inc. now owns 100,000 shares of the biopharmaceutical company’s stock valued at $551,000 after buying an additional 40,000 shares during the period. Finally, ProShare Advisors LLC boosted its position in Tokai Pharmaceuticals by 1.7% in the second quarter. ProShare Advisors LLC now owns 18,060 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 301 shares during the period. 23.80% of the stock is currently owned by hedge funds and other institutional investors.

About Tokai Pharmaceuticals

Tokai Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on developing and commercializing therapies for the treatment of prostate cancer and other hormonally-driven diseases. The Company’s lead drug candidate, galeterone, is an oral small molecule that utilizes the mechanistic pathways of second-generation androgen signaling inhibitors, while also introducing a third mechanism-androgen receptor degradation.

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