Zacks Investment Research upgraded shares of Cerulean Pharma Inc. (NASDAQ:CERU) from a hold rating to a buy rating in a research note published on Wednesday. Zacks Investment Research currently has $1.00 target price on the stock.
According to Zacks, “Cerulean Pharma Inc. is a clinical-stage oncology-focused company. The Company manufactures therapeutics in the areas of oncology, cardiovascular, autoimmune, and inflammatory diseases as well as tumor cells. Cerulean Pharma Inc. is based in Cambridge, Massachusetts. “
A number of other analysts have also issued reports on the stock. Canaccord Genuity reiterated a buy rating and set a $20.00 price target (down from $29.00) on shares of Cerulean Pharma in a research note on Sunday, August 21st. Janney Montgomery Scott downgraded Cerulean Pharma from a buy rating to a neutral rating in a research report on Thursday, August 18th. Leerink Swann downgraded Cerulean Pharma from an outperform rating to a market perform rating and lowered their price objective for the stock from $8.00 to $1.50 in a research report on Thursday, August 18th. Wedbush downgraded Cerulean Pharma from an outperform rating to a neutral rating in a research report on Thursday, August 18th. Finally, Roth Capital reissued a buy rating and set a $2.50 price objective (down from $9.00) on shares of Cerulean Pharma in a research report on Thursday, August 18th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Cerulean Pharma has a consensus rating of Buy and an average target price of $7.78.
Cerulean Pharma (NASDAQ:CERU) opened at 0.9826 on Wednesday. The company has a 50 day moving average of $1.03 and a 200 day moving average of $2.24. Cerulean Pharma has a 12 month low of $0.92 and a 12 month high of $4.33. The stock’s market capitalization is $26.91 million.
Cerulean Pharma (NASDAQ:CERU) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.08. On average, equities analysts predict that Cerulean Pharma will post ($1.58) EPS for the current year.
A number of institutional investors have recently made changes to their positions in the stock. Bridgeway Capital Management Inc. increased its position in shares of Cerulean Pharma by 97.4% in the second quarter. Bridgeway Capital Management Inc. now owns 202,623 shares of the company’s stock worth $430,000 after buying an additional 100,000 shares during the period. Vanguard Group Inc. increased its position in shares of Cerulean Pharma by 43.8% in the second quarter. Vanguard Group Inc. now owns 542,631 shares of the company’s stock worth $1,151,000 after buying an additional 165,181 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Cerulean Pharma by 33.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 62,251 shares of the company’s stock worth $169,000 after buying an additional 15,525 shares during the period. 33.18% of the stock is owned by hedge funds and other institutional investors.
Cerulean Pharma Company Profile
Cerulean Pharma Inc is a clinical-stage, oncology-focused company. The Company applies its Dynamic Tumor Targeting platform to develop differentiated therapies. Its platform utilizes nanoparticle-drug conjugates (NDCs), which consist of polymers that are covalently linked to anti-cancer therapeutics or payloads.
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