Cerulean Pharma Inc. (NASDAQ:CERU)’s share price shot up 3.8% during trading on Friday . The stock traded as high as $3.07 and last traded at $3.02, with a volume of 135,267 shares changing hands. The stock had previously closed at $2.91.

Several research firms recently commented on CERU. Canaccord Genuity reiterated a “buy” rating on shares of Cerulean Pharma in a research note on Tuesday, May 3rd. Janney Montgomery Scott began coverage on shares of Cerulean Pharma in a research note on Wednesday, June 1st. They set a “buy” rating for the company. Leerink Swann reiterated a “buy” rating on shares of Cerulean Pharma in a research note on Sunday, June 26th. 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. Finally, Zacks Investment Research cut shares of Cerulean Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $9.25.

The firm’s market cap is $81.88 million. The stock’s 50 day moving average is $2.55 and its 200 day moving average is $2.52.

Cerulean Pharma (NASDAQ:CERU) last issued 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, equities research analysts forecast that Cerulean Pharma Inc. will post ($1.64) earnings per share 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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