Cascadian Therapeutics, Inc. (NASDAQ:CASC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday, July 17th. The firm presently has a $4.50 price target on the biopharmaceutical company’s stock. Zacks Investment Research‘s target price points to a potential upside of 23.63% from the stock’s current price.
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. “
A number of other research analysts also recently commented on CASC. ValuEngine downgraded shares of Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $4.00 price objective on shares of Cascadian Therapeutics in a research report on Wednesday, May 10th. Cowen and Company reaffirmed a “buy” rating on shares of Cascadian Therapeutics in a research report on Tuesday, May 9th. Finally, BTIG Research began coverage on shares of Cascadian Therapeutics in a research report on Friday, April 21st. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.17.
Shares of Cascadian Therapeutics (NASDAQ:CASC) opened at 3.64 on Monday. The company has a 50-day moving average price of $3.93 and a 200-day moving average price of $4.02. The firm’s market capitalization is $179.25 million. Cascadian Therapeutics has a 12-month low of $0.84 and a 12-month high of $6.72.
Cascadian Therapeutics (NASDAQ:CASC) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06. During the same quarter in the prior year, the business posted ($1.57) EPS. Equities analysts predict that Cascadian Therapeutics will post $5.02 EPS for the current year.
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Institutional investors have recently bought and sold shares of the stock. NEA Management Company LLC boosted its position in Cascadian Therapeutics by 405.9% in the first quarter. NEA Management Company LLC now owns 9,064,575 shares of the biopharmaceutical company’s stock valued at $37,527,000 after buying an additional 7,272,909 shares in the last quarter. Baupost Group LLC MA boosted its position in Cascadian Therapeutics by 109.3% in the first quarter. Baupost Group LLC MA now owns 8,721,079 shares of the biopharmaceutical company’s stock valued at $36,105,000 after buying an additional 4,554,413 shares in the last quarter. Redmile Group LLC purchased a new position in Cascadian Therapeutics during the first quarter valued at about $16,860,000. Vanguard Group Inc. raised its stake in shares of Cascadian Therapeutics by 24.1% in the second quarter. Vanguard Group Inc. now owns 1,767,681 shares of the biopharmaceutical company’s stock valued at $6,567,000 after buying an additional 343,838 shares during the last quarter. Finally, Sandia Holdings LLC raised its stake in shares of Cascadian Therapeutics by 70.5% in the second quarter. Sandia Holdings LLC now owns 927,264 shares of the biopharmaceutical company’s stock valued at $3,445,000 after buying an additional 383,545 shares during the last quarter. Hedge funds and other institutional investors own 82.60% 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.
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