Cerulean Pharma Inc. (NASDAQ:CERU) shot up 6.5% during trading on Friday . The company traded as high as $2.97 and last traded at $2.93, with a volume of 116,950 shares changing hands. The stock had previously closed at $2.75.

A number of research firms have commented on CERU. Canaccord Genuity reissued a “buy” rating and set a $15.00 price target on shares of Cerulean Pharma in a report on Wednesday, April 20th. Wedbush reaffirmed an “outperform” rating and issued a $9.00 target price on shares of Cerulean Pharma in a report on Tuesday, April 19th. Janney Montgomery Scott started coverage on Cerulean Pharma in a report on Wednesday, June 1st. They issued a “buy” rating on the stock. Finally, Leerink Swann reaffirmed a “buy” rating on shares of Cerulean Pharma in a report on Sunday, June 26th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $9.28.

The stock has a 50 day moving average of $2.34 and a 200 day moving average of $2.49. The stock’s market cap is $79.08 million.

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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