Cerulean Pharma Inc. (NASDAQ:CERU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $1.00 price objective on the stock. Zacks Investment Research’s target price indicates a potential upside of 0.03% from the stock’s previous close.
According to Zacks, “Cerulean Pharma Inc. is a clinical-stage oncology-focused company. The Company manufactures therapeutics in the areas of oncology, cardiovascular, autoimmune, and inflammatory diseases as well as tumor cells. Cerulean Pharma Inc. is based in Cambridge, Massachusetts. “
Several other analysts have also recently weighed in on CERU. Leerink Swann reaffirmed a “buy” rating on shares of Cerulean Pharma in a research note on Sunday, June 26th. Janney Montgomery Scott cut shares of Cerulean Pharma from a “buy” rating to a “neutral” rating in a research note on Thursday, August 18th. Roth Capital reissued a “buy” rating and set a $2.50 price target (down from $9.00) on shares of Cerulean Pharma in a research note on Thursday, August 18th. Wedbush cut shares of Cerulean Pharma from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 18th. Finally, Canaccord Genuity reissued a “buy” rating and set a $20.00 price target (down from $29.00) on shares of Cerulean Pharma in a research note on Sunday, August 21st. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Cerulean Pharma presently has an average rating of “Buy” and a consensus target price of $7.78.
Cerulean Pharma (NASDAQ:CERU) opened at 0.9997 on Wednesday. The stock’s market capitalization is $27.38 million. Cerulean Pharma has a 52-week low of $0.92 and a 52-week high of $4.33. The firm’s 50-day moving average is $1.03 and its 200 day moving average is $2.25.
Cerulean Pharma (NASDAQ:CERU) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.40) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.48) by $0.08. On average, equities analysts forecast that Cerulean Pharma will post ($1.58) earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in CERU. BlackRock Institutional Trust Company N.A. raised its position in shares of Cerulean Pharma by 33.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 62,251 shares of the company’s stock valued at $169,000 after buying an additional 15,525 shares in the last quarter. Vanguard Group Inc. raised its stake in Cerulean Pharma by 43.8% in the second quarter. Vanguard Group Inc. now owns 542,631 shares of the company’s stock valued at $1,151,000 after buying an additional 165,181 shares during the period. Finally, Bridgeway Capital Management Inc. raised its stake in Cerulean Pharma by 97.4% in the second quarter. Bridgeway Capital Management Inc. now owns 202,623 shares of the company’s stock valued at $430,000 after buying an additional 100,000 shares during the period. Institutional investors and hedge funds own 33.18% of the company’s stock.
Cerulean Pharma Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cerulean Pharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerulean Pharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.