Zacks Investment Research Upgrades Oncothyreon Inc. (CASC) to “Buy”
Oncothyreon Inc. (NASDAQ:CASC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $2.00 price target on the biopharmaceutical company’s stock. Zacks Investment Research’s price objective would suggest a potential upside of 19.05% from the stock’s current price.
According to Zacks, “Cascadian Therapeutics, Inc. is a biopharmaceutical company specializing in developing innovative therapeutic product candidates for the treatment of cancer. The company’s product candidate is ONT-380, an orally active and selective small molecule HER2 inhibitor which is in preclinical trial stage. Cascadian Therapeutics, Inc., formerly known as Oncothyreon Inc., is headquartered in Seattle, Washington. “
Several other research firms have also weighed in on CASC. Jefferies Group reiterated a “buy” rating and issued a $4.00 price objective on shares of Oncothyreon in a research note on Monday, June 6th. Cantor Fitzgerald reiterated a “hold” rating on shares of Oncothyreon in a research note on Wednesday, June 8th. Finally, Cowen and Company reissued a “buy” rating on shares of Oncothyreon in a research report on Wednesday, June 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Oncothyreon presently has a consensus rating of “Buy” and a consensus price target of $3.20.
Oncothyreon (NASDAQ:CASC) traded up 3.70% during mid-day trading on Tuesday, reaching $1.68. 1,364,135 shares of the company’s stock traded hands. The company has a 50 day moving average price of $1.27 and a 200-day moving average price of $1.16. The stock’s market cap is $227.32 million. Oncothyreon has a 12 month low of $0.82 and a 12 month high of $3.75.
Oncothyreon (NASDAQ:CASC) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.12) by $0.14. During the same quarter in the prior year, the company posted ($0.11) EPS. On average, analysts anticipate that Oncothyreon will post $5.02 EPS for the current year.
In other news, insider Scott Dunseth Myers acquired 45,000 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were purchased at an average cost of $1.15 per share, with a total value of $51,750.00. Following the acquisition, the insider now directly owns 107,500 shares of the company’s stock, valued at $123,625. The transaction was disclosed in a document filed with the SEC, which is available through this link. 19.40% of the stock is currently owned by corporate insiders.
Oncothyreon Company Profile
Cascadian Therapeutics, Inc, formerly Oncothyreon Inc, is a clinical-stage biopharmaceutical company. The Company focuses on the development of therapeutic products for the treatment of cancer. The Company’s clinical-stage product candidate includes ONT-380, an orally active and selective small-molecule human epidermal growth factor receptor (HER) 2 inhibitor.
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