Barclays PLC initiated coverage on shares of Cascadian Therapeutics, Inc. (NASDAQ:CASC) in a research note released on Wednesday, Marketbeat reports. The firm issued an underweight rating and a $4.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts have also recently commented on CASC. Cowen and Company restated a buy rating on shares of Cascadian Therapeutics in a report on Tuesday, May 9th. Cantor Fitzgerald restated a hold rating and set a $4.00 target price on shares of Cascadian Therapeutics in a report on Wednesday, May 10th. Zacks Investment Research cut shares of Cascadian Therapeutics from a buy rating to a hold rating in a report on Friday, May 19th. Finally, ValuEngine cut shares of Cascadian Therapeutics from a sell rating to a strong sell rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $5.63.

Cascadian Therapeutics (NASDAQ:CASC) opened at 3.59 on Wednesday. The stock’s 50 day moving average is $3.77 and its 200-day moving average is $3.94. Cascadian Therapeutics has a 12-month low of $0.84 and a 12-month high of $6.72. The company’s market cap is $181.49 million.

Cascadian Therapeutics (NASDAQ:CASC) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.36) by $0.06. During the same quarter last year, the firm posted ($1.57) earnings per share. Analysts predict that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in CASC. Acadian Asset Management LLC acquired a new position in Cascadian Therapeutics during the first quarter worth $238,000. TFS Capital LLC acquired a new position in Cascadian Therapeutics during the first quarter worth $314,000. Oxford Asset Management boosted its holdings in Cascadian Therapeutics by 32.9% during the first quarter. Oxford Asset Management now owns 162,192 shares of the biopharmaceutical company’s stock worth $671,000 after purchasing an additional 40,117 shares during the last quarter. NEA Management Company LLC boosted its holdings in Cascadian Therapeutics by 405.9% during the first quarter. NEA Management Company LLC now owns 9,064,575 shares of the biopharmaceutical company’s stock worth $37,527,000 after purchasing an additional 7,272,909 shares during the last quarter. Finally, Sphera Funds Management LTD. acquired a new position in Cascadian Therapeutics during the first quarter worth $2,406,000. Institutional investors and hedge funds own 82.55% of the company’s stock.

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.

Analyst Recommendations for Cascadian Therapeutics (NASDAQ:CASC)

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