Trade Report: Today, Cascadian Therapeutics Inc. (CASC) Rating Increased to Hold at The Zacks Investment Research

Today, Cascadian Therapeutics Inc. (CASC) Rating Increased 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 report issued to clients and 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. “

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

Cascadian Therapeutics (NASDAQ:CASC) traded down 1.92% on Friday, reaching $1.02. 289,085 shares of the company were exchanged. Cascadian Therapeutics has a 52 week low of $0.82 and a 52 week high of $3.75. The stock’s market capitalization is $138.02 million. The stock has a 50-day moving average price of $1.18 and a 200 day moving average price of $1.16.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna International Group LLP increased its position 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 during the last quarter. KCG Holdings Inc. increased its position 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 during the last quarter. ProShare Advisors LLC increased its position 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 during the last quarter. Northern Trust Corp increased its position 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 during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position 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 during the last quarter. 66.32% of the stock is currently owned by institutional investors.

Cascadian Therapeutics Company Profile

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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