Cerulean Pharma Inc. (NASDAQ:CERU) shares fell 2.4% on Friday . The company traded as low as $2.80 and last traded at $2.84, with a volume of 164,029 shares changing hands. The stock had previously closed at $2.91.

A number of research firms have weighed in 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 Cerulean Pharma in a report on Wednesday, June 1st. They set 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 set a $9.00 target price on shares of Cerulean Pharma in a report on Tuesday, April 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $9.28.

The company has a 50-day moving average of $2.42 and a 200 day moving average of $2.50. The firm’s market capitalization is $76.62 million.

Cerulean Pharma (NASDAQ:CERU) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.08. On average, 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.