Cascadian Therapeutics Inc. (NASDAQ:CASC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

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 analysts have also recently issued research reports about the stock. Jefferies Group reiterated a “buy” rating and set a $3.00 target price on shares of Cascadian Therapeutics in a research report on Tuesday, November 8th. Cowen and Company reiterated a “buy” rating on shares of Cascadian Therapeutics in a research report on Monday, October 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $3.00.

Shares of Cascadian Therapeutics (NASDAQ:CASC) opened at 1.17 on Thursday. The company’s 50 day moving average price is $1.29 and its 200 day moving average price is $1.17. The stock’s market capitalization is $158.31 million. Cascadian Therapeutics has a one year low of $0.82 and a one year high of $3.75.

Cascadian Therapeutics (NASDAQ:CASC) last issued its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by $0.01. On average, analysts expect that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.

In other news, insider Scott Dunseth Myers purchased 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was bought at an average price of $1.15 per share, with a total value of $51,750.00. Following the acquisition, the insider now directly owns 107,500 shares of the company’s stock, valued at $123,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 20.70% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in CASC. ProShare Advisors LLC raised its position 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 valued at $140,000 after buying an additional 14,378 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of 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. Northern Trust Corp raised its position in shares of 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, KCG Holdings Inc. raised its position in shares of 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. 66.14% of the stock is owned by institutional investors.

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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