Cascadian Therapeutics, Inc. (NASDAQ:CASC)‘s stock had its “hold” rating reiterated by Cantor Fitzgerald in a report issued on Monday, September 11th. They currently have a $4.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential downside of 2.20% from the stock’s previous close.
The analysts wrote, “Pooled analysis from Phase Ib trial in HER2+ metastatic breast cancer patients with or without brain metastases demonstrated similarity in PFS between two groups (264P), which is a secondary endpoint in the HER2CLIMB trial.””
CASC has been the topic of several other reports. Zacks Investment Research downgraded shares of Cascadian Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. ValuEngine downgraded shares of Cascadian Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Cowen and Company reiterated a “buy” rating on shares of Cascadian Therapeutics in a report on Wednesday, August 9th. Finally, Barclays PLC began coverage on shares of Cascadian Therapeutics in a report on Wednesday, September 6th. They issued an “underweight” rating and a $4.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Cascadian Therapeutics currently has a consensus rating of “Hold” and an average price target of $5.63.
Shares of Cascadian Therapeutics (NASDAQ:CASC) traded down 0.24% during trading on Monday, hitting $4.09. The stock had a trading volume of 351,338 shares. The company’s market capitalization is $206.76 million. Cascadian Therapeutics has a 52 week low of $3.18 and a 52 week high of $10.98. The company’s 50 day moving average price is $3.71 and its 200 day moving average price is $3.92.
Cascadian Therapeutics (NASDAQ:CASC) last issued its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.30) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.06. During the same quarter in the previous year, the firm posted ($1.57) EPS. Analysts predict that Cascadian Therapeutics will post $5.02 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in CASC. NEA Management Company LLC boosted its position in Cascadian Therapeutics by 405.9% in the 1st quarter. NEA Management Company LLC now owns 9,064,575 shares of the biopharmaceutical company’s stock valued at $37,527,000 after buying an additional 7,272,909 shares during the period. Baupost Group LLC MA boosted its position in Cascadian Therapeutics by 109.3% in the 1st quarter. Baupost Group LLC MA now owns 8,721,079 shares of the biopharmaceutical company’s stock valued at $36,105,000 after buying an additional 4,554,413 shares during the period. Redmile Group LLC purchased a new stake in shares of Cascadian Therapeutics in the 1st quarter worth approximately $16,860,000. Vanguard Group Inc. lifted its position in shares of Cascadian Therapeutics by 116.7% in the 1st quarter. Vanguard Group Inc. now owns 1,423,843 shares of the biopharmaceutical company’s stock worth $5,895,000 after purchasing an additional 766,725 shares during the period. Finally, Sphera Funds Management LTD. purchased a new stake in shares of Cascadian Therapeutics in the 1st quarter worth approximately $2,406,000. 82.55% of the stock is owned by institutional investors.
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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