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

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

The firm’s market cap is $79.08 million. The company has a 50-day moving average price of $2.34 and a 200-day moving average price of $2.49.

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 anticipate 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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