Zacks Investment Research Downgrades Celsion Corp. (CLSN) to Sell
Celsion Corp. (NASDAQ:CLSN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Celsion is dedicated to the development and commercialization of oncology drugs including tumor-targeting treatments using focused heat energy in combination with heat activated drug delivery systems. Celsion has research, license or commercialization agreements with leading institutions such as the National Institutes of Health, Duke University Medical Center, University of Hong Kong, North Shore Long Island Jewish Health System. “
Several other research analysts have also recently issued reports on the company. HC Wainwright restated a “buy” rating on shares of Celsion Corp. in a research note on Monday. Maxim Group cut Celsion Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th.
Celsion Corp. (NASDAQ:CLSN) opened at 0.86 on Tuesday. The firm’s market cap is $22.20 million. The stock has a 50 day moving average of $1.06 and a 200-day moving average of $1.25. Celsion Corp. has a 12 month low of $0.78 and a 12 month high of $2.31.
Celsion Corp. (NASDAQ:CLSN) last announced its quarterly earnings data on Monday, August 15th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.02. Celsion Corp. had a negative return on equity of 139.38% and a negative net margin of 4,390.50%. Equities research analysts predict that Celsion Corp. will post ($0.85) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Celsion Corp. stock. Sabby Management LLC raised its stake in shares of Celsion Corp. (NASDAQ:CLSN) by 7,986.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,519,365 shares of the company’s stock after buying an additional 1,500,576 shares during the period. Sabby Management LLC owned 6.48% of Celsion Corp. worth $1,930,000 at the end of the most recent reporting period. 15.05% of the stock is currently owned by institutional investors and hedge funds.
About Celsion Corp.
Celsion Corporation is an oncology drug development company. The Company’s product candidate is ThermoDox, a heat-activated liposomal encapsulation of doxorubicin, which is in Phase III clinical trial for treatment of primary liver cancer (the OPTIMA Study) and a Phase II clinical trial for treatment of recurrent chest wall breast cancer (the DIGNITY Study).
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