Cerulean Pharma Inc. (CERU) Sees Strong Trading Volume
Cerulean Pharma Inc. (NASDAQ:CERU) saw unusually-high trading volume on Wednesday . Approximately 450,227 shares were traded during trading, an increase of 91% from the previous session’s volume of 235,326 shares.The stock last traded at $2.74 and had previously closed at $2.86.
CERU has been the topic of a number of research reports. Zacks Investment Research raised Cerulean Pharma from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a report on Tuesday, August 9th. Canaccord Genuity reissued a “buy” rating and set a $15.00 price objective on shares of Cerulean Pharma in a report on Wednesday, April 20th. Leerink Swann reissued a “buy” rating on shares of Cerulean Pharma in a report on Sunday, June 26th. Finally, Janney Montgomery Scott began coverage on Cerulean Pharma in a research note on Wednesday, June 1st. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $9.25.
The firm has a 50 day moving average price of $2.61 and a 200 day moving average price of $2.53. The firm’s market cap is $75.03 million.
Cerulean Pharma (NASDAQ:CERU) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.08. Equities research analysts anticipate that Cerulean Pharma Inc. will post ($1.60) 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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