Cyclacel Pharmaceuticals (CYCC) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research lowered shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.
According to Zacks, “CYCLACEL is a biopharmaceutical company dedicated to the discovery, development and commercialization of novel, mechanism-targeted drugs to treat human cancers and other serious disorders. Three orally-available Cyclacel drugs are in clinical development. Sapacitabine, a cell cycle modulating nucleoside analog, is in Phase 2 studies for the treatment of acute myeloid leukemia in the elderly, myelodysplastic syndromes and cutaneous T-cell lymphoma. Seliciclib (CYC202 or R-roscovitine), a CDK inhibitor, is in Phase 2 for the treatment of lung cancer and nasopharyngeal cancer. “
Several other equities analysts have also recently issued reports on CYCC. LADENBURG THALM/SH SH began coverage on shares of Cyclacel Pharmaceuticals in a research note on Friday, September 7th. They set a buy rating and a $6.25 target price on the stock. HC Wainwright set a $7.00 target price on shares of Cyclacel Pharmaceuticals and gave the company a buy rating in a research note on Friday, August 10th. Finally, Roth Capital began coverage on shares of Cyclacel Pharmaceuticals in a research note on Wednesday, September 5th. They set a buy rating and a $8.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $5.75.
Cyclacel Pharmaceuticals (NASDAQ:CYCC) last posted its earnings results on Thursday, August 9th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.04). equities research analysts expect that Cyclacel Pharmaceuticals will post -0.63 earnings per share for the current year.
An institutional investor recently raised its position in Cyclacel Pharmaceuticals stock. Renaissance Technologies LLC grew its holdings in shares of Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) by 513.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,400 shares of the biotechnology company’s stock after purchasing an additional 76,500 shares during the quarter. Renaissance Technologies LLC owned approximately 0.76% of Cyclacel Pharmaceuticals worth $130,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 5.61% of the company’s stock.
Cyclacel Pharmaceuticals Company Profile
Cyclacel Pharmaceuticals, Inc, a biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases. The company's oncology development programs include sapacitabine, a novel orally-available nucleoside analog that is in Phase III clinical trial for the front-line treatment of acute myeloid leukemia; and Phase II clinical trial for the treatment of myelodysplastic syndromes.
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