Cyclacel Pharmaceuticals (NASDAQ:CYCC) Upgraded to Hold at Zacks Investment Research
Cyclacel Pharmaceuticals (NASDAQ:CYCC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, September 18th.
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. “
A number of other analysts also recently issued reports on the stock. LADENBURG THALM/SH SH began coverage on shares of Cyclacel Pharmaceuticals in a report on Friday, September 7th. They set a “buy” rating and a $6.25 price objective for the company. Roth Capital began coverage on shares of Cyclacel Pharmaceuticals in a report on Wednesday, September 5th. They set a “buy” rating and a $8.00 price objective for the company. Finally, HC Wainwright set a $7.00 price objective on shares of Cyclacel Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $5.75.
Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its quarterly earnings results on Thursday, August 9th. The biotechnology company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.04). On average, equities analysts expect that Cyclacel Pharmaceuticals will post -0.63 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Cyclacel Pharmaceuticals stock. Renaissance Technologies LLC increased its holdings in Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) by 513.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,400 shares of the biotechnology company’s stock after purchasing an additional 76,500 shares during the quarter. Renaissance Technologies LLC owned 0.76% of Cyclacel Pharmaceuticals worth $130,000 as of its most recent filing with the Securities & Exchange Commission. 5.61% of the stock is currently owned by institutional investors.
About Cyclacel Pharmaceuticals
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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