Cascadian Therapeutics, Inc. (CASC) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Cascadian Therapeutics, Inc. (NASDAQ:CASC) from a buy rating to a hold rating in a report published on Tuesday morning.

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 equities analysts have also recently issued reports about the company. Barclays PLC began coverage on Cascadian Therapeutics in a research note on Wednesday, September 6th. They issued an underweight rating and a $4.00 price target on the stock. Cowen and Company reaffirmed a buy rating on shares of Cascadian Therapeutics in a research note on Wednesday, August 9th. Cantor Fitzgerald reaffirmed a hold rating and issued a $4.00 price target on shares of Cascadian Therapeutics in a research note on Thursday, August 31st. Finally, ValuEngine cut Cascadian Therapeutics from a sell rating to a strong sell rating in a research note on Friday, September 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $5.63.

Shares of Cascadian Therapeutics (NASDAQ CASC) traded up $0.07 on Tuesday, hitting $4.01. The stock had a trading volume of 131,618 shares, compared to its average volume of 294,279. Cascadian Therapeutics has a 12-month low of $3.18 and a 12-month high of $6.78.

Cascadian Therapeutics (NASDAQ:CASC) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.28) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.01. During the same period in the prior year, the company posted ($0.09) earnings per share. sell-side analysts forecast that Cascadian Therapeutics will post -1.27 earnings per share for the current year.

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A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Cascadian Therapeutics by 423.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 511,899 shares of the biopharmaceutical company’s stock valued at $2,094,000 after purchasing an additional 414,019 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cascadian Therapeutics by 6,622.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 89,413 shares of the biopharmaceutical company’s stock worth $367,000 after purchasing an additional 88,083 shares in the last quarter. P.A.W. Capital Corp acquired a new stake in shares of Cascadian Therapeutics in the 3rd quarter worth $982,000. California State Teachers Retirement System acquired a new stake in shares of Cascadian Therapeutics in the 2nd quarter worth $226,000. Finally, State Street Corp lifted its position in Cascadian Therapeutics by 1,113.7% during the 2nd quarter. State Street Corp now owns 411,299 shares of the biopharmaceutical company’s stock worth $1,527,000 after acquiring an additional 377,410 shares during the period. 83.03% 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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