Cascadian Therapeutics Inc. (CASC) Lifted to “Hold” at 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 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. “

Separately, Cowen and Company reiterated a “buy” rating on shares of Cascadian Therapeutics in a research report on Monday, October 10th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $3.20.

Cascadian Therapeutics (NASDAQ:CASC) traded up 0.77% on Tuesday, reaching $1.31. The company had a trading volume of 307,407 shares. The company’s 50-day moving average price is $1.35 and its 200 day moving average price is $1.18. The firm’s market capitalization is $177.26 million. Cascadian Therapeutics has a 1-year low of $0.82 and a 1-year high of $3.75.

Cascadian Therapeutics (NASDAQ:CASC) last issued its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.14. During the same period last year, the business posted ($0.11) EPS. On average, equities analysts forecast that Cascadian Therapeutics will post $5.02 EPS for the current year.

In related news, insider Scott Dunseth Myers purchased 45,000 shares of Cascadian Therapeutics stock in a transaction that occurred on Wednesday, August 17th. The stock was purchased at an average price of $1.15 per share, for a total transaction of $51,750.00. Following the transaction, the insider now directly owns 107,500 shares in the company, valued at $123,625. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate 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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