Zacks Investment Research upgraded shares of Cascadian Therapeutics, Inc. (NASDAQ:CASC) from a hold rating to a buy rating in a report published on Monday morning. They currently have $4.50 price objective on the biopharmaceutical company’s stock.

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. “

Several other equities analysts have also recently issued reports on the company. Cantor Fitzgerald reissued a hold rating and issued a $4.00 price objective on shares of Cascadian Therapeutics in a report on Monday, September 11th. Barclays PLC initiated coverage on Cascadian Therapeutics in a report on Wednesday, September 6th. They issued an underweight rating and a $4.00 price objective for the company. ValuEngine cut Cascadian Therapeutics from a sell rating to a strong sell rating in a report on Friday, September 1st. Finally, Cowen and Company reissued a buy rating on shares of Cascadian Therapeutics in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Cascadian Therapeutics has an average rating of Hold and an average price target of $5.63.

Cascadian Therapeutics (NASDAQ CASC) traded down $0.11 during trading on Monday, reaching $4.06. The company’s stock had a trading volume of 334,700 shares, compared to its average volume of 296,392. Cascadian Therapeutics has a twelve month low of $3.18 and a twelve month high of $7.80.

Cascadian Therapeutics (NASDAQ:CASC) last posted its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.01. During the same period in the previous year, the company posted ($0.09) EPS. equities research analysts forecast that Cascadian Therapeutics will post -1.25 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Cascadian Therapeutics, Inc. (CASC) Upgraded to “Buy” at Zacks Investment Research” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/11/13/cascadian-therapeutics-inc-casc-upgraded-to-buy-at-zacks-investment-research.html.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CASC. State of Wisconsin Investment Board acquired a new position in Cascadian Therapeutics in the 2nd quarter worth about $104,000. New York State Common Retirement Fund acquired a new position in Cascadian Therapeutics in the 2nd quarter worth about $136,000. Rhumbline Advisers acquired a new position in shares of Cascadian Therapeutics during the second quarter valued at approximately $143,000. BB&T Securities LLC acquired a new position in shares of Cascadian Therapeutics during the second quarter valued at approximately $143,000. Finally, Bank of America Corp DE raised its holdings in shares of Cascadian Therapeutics by 2,316.5% during the first quarter. Bank of America Corp DE now owns 37,528 shares of the biopharmaceutical company’s stock valued at $155,000 after acquiring an additional 35,975 shares during the last quarter. 83.03% of the stock is owned by institutional investors.

Cascadian Therapeutics Company Profile

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)

Receive News & Stock Ratings for Cascadian Therapeutics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cascadian Therapeutics Inc. and related stocks with our FREE daily email newsletter.