Cascadian Therapeutics Inc (CASC) Raised to “Buy” at Zacks Investment Research

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.

Your IP Address:

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.

5 Day Chart for NASDAQ:CASC

Get a free copy of the Zacks research report on Cascadian Therapeutics (CASC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/cascadian-therapeutics-inc-casc-raised-to-buy-at-zacks-investment-research/1708622.html

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *