Cerulean Pharma Inc. (NASDAQ:CERU) shares traded down 0.7% during mid-day trading on Monday . The stock traded as low as $2.80 and last traded at $2.97, with a volume of 140,462 shares. The stock had previously closed at $2.99.

Several research analysts have issued reports on the company. Canaccord Genuity reiterated a “buy” rating on shares of Cerulean Pharma in a report on Tuesday, May 3rd. Janney Montgomery Scott initiated coverage on Cerulean Pharma in a research report on Wednesday, June 1st. They set a “buy” rating for the company. Leerink Swann reaffirmed a “buy” rating on shares of Cerulean Pharma in a research report on Sunday, June 26th. Wedbush reaffirmed an “outperform” rating and set a $9.00 price target on shares of Cerulean Pharma in a research report on Tuesday, April 19th. Finally, Zacks Investment Research downgraded Cerulean Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $9.25.

The firm’s 50-day moving average is $2.60 and its 200 day moving average is $2.53. The company’s market capitalization is $73.94 million.

Cerulean Pharma (NASDAQ:CERU) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.48) by $0.08. On average, equities analysts anticipate that Cerulean Pharma Inc. will post ($1.60) EPS 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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