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.