Today, Cascadian Therapeutics Inc. (CASC) Upgraded to “Hold” at The Zacks Investment Research

Today, Cascadian Therapeutics Inc. (CASC) Upgraded to “Hold” at The Zacks Investment Research

Cascadian Therapeutics Inc. (NASDAQ:CASC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

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 topic of several other reports. Cowen and Company reaffirmed a “buy” rating on shares of Cascadian Therapeutics in a report on Monday, October 10th. Jefferies Group reaffirmed a “buy” rating and set a $3.00 price objective on shares of Cascadian Therapeutics in a report on Tuesday, November 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $3.00.

Cascadian Therapeutics (NASDAQ:CASC) traded down 1.92% during midday trading on Friday, hitting $1.02. 289,085 shares of the stock were exchanged. The company’s market capitalization is $138.02 million. Cascadian Therapeutics has a 1-year low of $0.82 and a 1-year high of $3.75. The company’s 50 day moving average is $1.18 and its 200 day moving average is $1.16.

Cascadian Therapeutics (NASDAQ:CASC) last released its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.01. Analysts predict that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in CASC. Susquehanna International Group LLP boosted 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 valued at $411,000 after buying an additional 280,488 shares in the last quarter. KCG Holdings Inc. boosted its stake in shares of Cascadian Therapeutics by 204.6% in the third quarter. KCG Holdings Inc. now owns 137,775 shares of the biopharmaceutical company’s stock valued at $226,000 after buying an additional 92,549 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Cascadian Therapeutics by 23.3% in the third quarter. Northern Trust Corp now owns 162,455 shares of the biopharmaceutical company’s stock valued at $267,000 after buying an additional 30,744 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Cascadian Therapeutics by 1.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,849,475 shares of the biopharmaceutical company’s stock valued at $3,033,000 after buying an additional 23,406 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Cascadian Therapeutics by 20.3% in the third quarter. ProShare Advisors LLC now owns 85,070 shares of the biopharmaceutical company’s stock valued at $140,000 after buying an additional 14,378 shares in the last quarter. Hedge funds and other institutional investors own 66.32% 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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