Cerulean Pharma Inc. (NASDAQ:CERU)’s share price 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. The stock had previously closed at $2.91.

A number of brokerages have recently weighed in on CERU. Canaccord Genuity reiterated a “buy” rating and set a $15.00 target price on shares of Cerulean Pharma in a research note on Wednesday, April 20th. Wedbush reiterated an “outperform” rating and set a $9.00 target price on shares of Cerulean Pharma in a research note on Tuesday, April 19th. Janney Montgomery Scott assumed coverage on Cerulean Pharma in a research report on Wednesday, June 1st. They set a “buy” rating on the stock. Finally, Leerink Swann reissued a “buy” rating on shares of Cerulean Pharma in a research report on Sunday, June 26th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Cerulean Pharma has a consensus rating of “Buy” and a consensus price target of $9.28.

The firm’s 50 day moving average price is $2.44 and its 200 day moving average price is $2.50. The firm’s market cap is $76.62 million.

Cerulean Pharma (NASDAQ:CERU) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.40) earnings per share for the quarter, topping the consensus estimate of ($0.48) by $0.08. On average, analysts expect that Cerulean Pharma Inc. will post ($1.67) 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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