Cascadian Therapeutics Inc. (CASC) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Cascadian Therapeutics Inc. (NASDAQ:CASC) from a buy rating to a sell rating in a research report sent to investors on Tuesday morning.

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 research analysts also recently issued reports on CASC. Cowen and Company reissued a buy rating on shares of Cascadian Therapeutics in a research report on Wednesday, June 15th. Jefferies Group reissued a buy rating on shares of Cascadian Therapeutics in a research report on Wednesday, June 15th. Finally, Cantor Fitzgerald reissued a hold rating and set a $2.00 price target on shares of Cascadian Therapeutics in a research report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Cascadian Therapeutics currently has an average rating of Hold and a consensus target price of $3.20.

Shares of Cascadian Therapeutics (NASDAQ:CASC) opened at 1.32 on Tuesday. Cascadian Therapeutics has a 12 month low of $0.82 and a 12 month high of $3.75. The firm’s market cap is $178.61 million. The stock’s 50 day moving average price is $1.35 and its 200 day moving average price is $1.18.

Cascadian Therapeutics (NASDAQ:CASC) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by $0.14. During the same quarter in the previous year, the business posted ($0.11) earnings per share. Equities research analysts predict that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.

In related news, insider Scott Dunseth Myers bought 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was bought at an average price of $1.15 per share, with a total value of $51,750.00. Following the completion of the transaction, the insider now directly owns 107,500 shares of the company’s stock, valued at $123,625. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 19.40% of the stock is owned by insiders.

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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