Jefferies Thinks Cascadian Therapeutics’ Stock is Going to Recover

By Carrie Williams

Jefferies analyst Gena Wang reiterated a Buy rating on Cascadian Therapeutics (NASDAQ: CASC) yesterday and set a price target of $3. The company’s shares closed yesterday at $0.97, close to its 52-week low of $0.82.

Wang said:

“CASC highlighted recent clinical progress and upcoming data presentation for tucatinib (ONT-380) at 3Q16 earning release. At SABCS (Dec 6-10), ORR and PFS data with longer follow-up will be presented for the tucatinib Ph1b triplet study in mBC. Ph2 HER2CLIMB trial enrollment remains on-track and mgmt plans to provide update on the clinical and regulatory plans in late-4Q16. Tucatinib (ONT-380, HER2 specific inhibitor) Ph1b triplet study update would be presented at SABCS (Dec 6-10 ’16). Recall that the triple combo (tucatinib + capecitabine + trastuzumab) achieved 58% overall response rate (ORR) and 6.3mon interim PFS in 24 evaluable pts with 3rd+ line HER2+ metastatic breast cancer (mBC, data as of May 27 ’16).”

According to TipRanks.com, Wang is ranked 0 out of 5 stars with an average return of -37.1% and a 14.0% success rate. Wang covers the Healthcare sector, focusing on stocks such as Dimension Therapeutics Inc, Atara Biotherapeutics, and Intellia Therapeutics.

Cascadian Therapeutics has an analyst consensus of Moderate Buy.

The company has a one year high of $1.83 and a one year low of $0.82. Currently, Cascadian Therapeutics has an average volume of 687.1K.

Cascadian Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on the development of therapeutic products for the treatment of cancer. Its current clinical-stage product candidates include ONT-380, an orally active and selective small-molecule HER2 inhibitor, and ONT-10, a therapeutic vaccine targeting the Mucin 1 peptide antigen. The company was founded on September 7, 2007 and is headquartered in Seattle, WA.