Cerulean Pharma Inc. (NASDAQ:CERU) traded down 9% during mid-day trading on Thursday . The company traded as low as $2.91 and last traded at $2.92, with a volume of 508,902 shares. The stock had previously closed at $3.21.

A number of equities research analysts have issued reports on the stock. Canaccord Genuity reiterated a “buy” rating and set a $15.00 price objective on shares of Cerulean Pharma in a research note on Wednesday, April 20th. Wedbush reiterated an “outperform” rating and set a $9.00 price objective on shares of Cerulean Pharma in a research note on Tuesday, April 19th. Janney Montgomery Scott assumed coverage on shares of Cerulean Pharma in a research note on Wednesday, June 1st. They set a “buy” rating on the stock. Finally, Leerink Swann reiterated a “buy” rating on shares of Cerulean Pharma in a research note on Sunday, June 26th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $9.28.

The stock’s 50 day moving average price is $2.26 and its 200 day moving average price is $2.50. The stock’s market cap is $78.26 million.

Cerulean Pharma (NASDAQ:CERU) last released its earnings results on Monday, May 2nd. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by $0.06. On average, equities analysts anticipate that Cerulean Pharma Inc. will post ($1.80) earnings per share for the current fiscal year.

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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