Today: The Cascadian Therapeutics Inc. (CASC) Downgraded by Zacks Investment Research to “Sell”

The Cascadian Therapeutics Inc. (CASC) Downgraded by Zacks Investment Research to “Sell”

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

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 equities analysts have also weighed in on the company. Cowen and Company reiterated a buy rating on shares of Cascadian Therapeutics in a research note on Monday. Cantor Fitzgerald reiterated a hold rating and set a $2.00 target price on shares of Cascadian Therapeutics in a research note on Wednesday, June 15th. Finally, Jefferies Group reiterated a buy rating on shares of Cascadian Therapeutics in a research note on Wednesday, June 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $3.20.

Shares of Cascadian Therapeutics (NASDAQ:CASC) traded down 0.75% during mid-day trading on Tuesday, hitting $1.33. The stock had a trading volume of 87,110 shares. The stock has a 50 day moving average of $1.33 and a 200-day moving average of $1.18. The stock’s market capitalization is $179.96 million. Cascadian Therapeutics has a 52 week low of $0.82 and a 52 week high of $3.75.

Cascadian Therapeutics (NASDAQ:CASC) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by $0.14. During the same period in the prior year, the company posted ($0.11) earnings per share. On average, equities research analysts predict that Cascadian Therapeutics will post $5.02 earnings per share for the current year.

In related news, insider Scott Dunseth Myers acquired 45,000 shares of the stock in a transaction on Wednesday, August 17th. The shares were purchased at an average price of $1.15 per share, for a total transaction of $51,750.00. Following the purchase, the insider now directly owns 107,500 shares in the company, valued at $123,625. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 19.40% 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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