Zacks Investment Research upgraded shares of Cascadian Therapeutics Inc (NASDAQ:CASC) from a hold rating to a buy rating in a report released on Wednesday. Zacks Investment Research currently has $4.75 price target 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. “
CASC has been the subject of a number of other reports. Jefferies Group LLC reaffirmed a buy rating and set a $10.00 target price (down from $15.00) on shares of Cascadian Therapeutics in a research report on Saturday, March 11th. Cowen and Company reaffirmed an outperform rating on shares of Cascadian Therapeutics in a research report on Wednesday, December 7th.
Shares of Cascadian Therapeutics (NASDAQ:CASC) opened at 3.97 on Wednesday. The stock’s market capitalization is $195.41 million. Cascadian Therapeutics has a 52-week low of $3.49 and a 52-week high of $10.98. The company’s 50 day moving average price is $4.19 and its 200 day moving average price is $3.04.
Cascadian Therapeutics (NASDAQ:CASC) last issued its earnings results on Thursday, March 9th. The biopharmaceutical company reported ($0.47) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.05. On average, equities research analysts anticipate that Cascadian Therapeutics will post $5.02 EPS for the current year.
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In other news, insider Scott Dunseth Myers bought 20,500 shares of the firm’s stock in a transaction on Friday, January 27th. The stock was acquired at an average cost of $3.76 per share, with a total value of $77,080.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ted W. Love bought 23,000 shares of the firm’s stock in a transaction on Thursday, February 2nd. The shares were purchased at an average cost of $4.24 per share, with a total value of $97,520.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 68,824 shares of company stock valued at $278,682. 20.70% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of CASC. Perceptive Advisors LLC purchased a new stake in shares of Cascadian Therapeutics during the fourth quarter worth $2,355,000. Handelsbanken Fonder AB purchased a new stake in shares of Cascadian Therapeutics during the fourth quarter worth $362,000. Susquehanna International Group LLP raised its stake in shares of Cascadian Therapeutics by 944.4% in the third quarter. Susquehanna International Group LLP now owns 250,788 shares of the biopharmaceutical company’s stock worth $411,000 after buying an additional 280,488 shares during the period. Sandia Holdings LLC purchased a new stake in shares of Cascadian Therapeutics during the fourth quarter worth $2,343,000. Finally, Oxford Asset Management raised its stake in shares of Cascadian Therapeutics by 50.2% in the fourth quarter. Oxford Asset Management now owns 122,075 shares of the biopharmaceutical company’s stock worth $526,000 after buying an additional 40,782 shares during the period.
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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