Cerulean Pharma Inc. (NASDAQ:CERU) fell 3.9% during mid-day trading on Thursday . The stock traded as low as $2.66 and last traded at $2.74, with a volume of 89,307 shares traded. The stock had previously closed at $2.85.

Several brokerages have recently issued reports on CERU. Canaccord Genuity reaffirmed a “buy” rating on shares of Cerulean Pharma in a report on Tuesday, May 3rd. Janney Montgomery Scott began coverage on Cerulean Pharma in a report on Wednesday, June 1st. They issued a “buy” rating on the stock. Leerink Swann reaffirmed a “buy” rating on shares of Cerulean Pharma in a report on Sunday, June 26th. 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 equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Cerulean Pharma has an average rating of “Buy” and a consensus target price of $9.28.

The firm’s market capitalization is $75.25 million. The stock’s 50-day moving average is $2.33 and its 200 day moving average is $2.49.

Cerulean Pharma (NASDAQ:CERU) last posted its earnings results on Monday, May 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by $0.06. Equities research analysts forecast that Cerulean Pharma Inc. will post ($1.80) EPS 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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