Stocks: Cascadian Therapeutics Inc (CASC) Earns “Buy” Rating from Cowen and Company

Stocks: Cascadian Therapeutics Inc (CASC) Earns “Buy” Rating from Cowen and Company

Cowen and Company restated their buy rating on shares of Cascadian Therapeutics Inc (NASDAQ:CASC) in a research report released on Tuesday morning.

“CASC reported 1Q financials and provided a pipeline update.”,” the firm’s analyst commented.

A number of other equities research analysts have also commented on the company. BTIG Research began coverage on Cascadian Therapeutics in a research report on Friday, April 21st. They set a buy rating on the stock. Zacks Investment Research raised Cascadian Therapeutics from a hold rating to a buy rating and set a $4.75 price target on the stock in a research report on Wednesday, March 15th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $10.00 price target (down previously from $15.00) on shares of Cascadian Therapeutics in a research report on Saturday, March 11th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $6.25.

Shares of Cascadian Therapeutics (NASDAQ:CASC) opened at 3.91 on Tuesday. The firm’s 50-day moving average price is $4.05 and its 200 day moving average price is $3.77. The firm’s market cap is $192.45 million. Cascadian Therapeutics has a 12-month low of $3.49 and a 12-month high of $10.98.

Cascadian Therapeutics (NASDAQ:CASC) last released its quarterly earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.09. On average, equities analysts expect that Cascadian Therapeutics will post $5.02 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Segantii Capital Management Ltd acquired a new stake in Cascadian Therapeutics during the first quarter worth approximately $243,000. Sphera Funds Management LTD. acquired a new stake in Cascadian Therapeutics during the first quarter worth approximately $2,406,000. NEA Management Company LLC raised its stake in Cascadian Therapeutics by 405.9% in the first quarter. NEA Management Company LLC now owns 9,064,575 shares of the biopharmaceutical company’s stock worth $37,527,000 after buying an additional 7,272,909 shares in the last quarter. Oxford Asset Management raised its stake in Cascadian Therapeutics by 32.9% in the first quarter. Oxford Asset Management now owns 162,192 shares of the biopharmaceutical company’s stock worth $671,000 after buying an additional 40,117 shares in the last quarter. Finally, TFS Capital LLC acquired a new stake in Cascadian Therapeutics during the first quarter worth approximately $314,000.

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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