Cerulean Pharma Inc. (NASDAQ:CERU) shares shot up 3.1% during mid-day trading on Friday . The company traded as high as $3.07 and last traded at $2.95, with a volume of 134,347 shares changing hands. The stock had previously closed at $2.86.

A number of brokerages have issued reports on CERU. Leerink Swann reaffirmed a “buy” rating on shares of Cerulean Pharma in a report on Sunday, June 26th. Janney Montgomery Scott began coverage on shares of Cerulean Pharma in a report on Wednesday, June 1st. They issued a “buy” rating for the company. Canaccord Genuity reaffirmed a “buy” rating on shares of Cerulean Pharma in a report on Tuesday, May 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $9.00 target price on shares of Cerulean Pharma in a report on Tuesday, April 19th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Cerulean Pharma has an average rating of “Buy” and a consensus price target of $9.28.

The firm has a 50-day moving average price of $2.27 and a 200 day moving average price of $2.50. The firm’s market capitalization is $80.72 million.

Cerulean Pharma (NASDAQ:CERU) last announced its quarterly earnings data on Monday, May 2nd. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by $0.06. Equities analysts predict that Cerulean Pharma Inc. will post ($1.80) earnings per share for the current 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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