Leerink Swann Downgrades Cerulean Pharma Inc to Market Perform

Brokerage firm Leerink Swann Downgrades its rating on Cerulean Pharma Inc(NASDAQ:CERU). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by Leerink Swann was issued on Aug 18, 2016.

In a different note, On Aug 30, 2016, Barclays said it Maintains its rating on Cerulean Pharma Inc. In the research note, the firm Lowers the price-target to $5.00 per share. The shares have been rated ‘Overweight’ by the firm. On Aug 18, 2016, JMP Securities said it Downgrades its rating on Cerulean Pharma Inc. The shares have been rated ‘Market Perform’ by the firm. On Aug 18, 2016, Janney Capital said it Downgrades its rating on Cerulean Pharma Inc. The shares have been rated ‘Neutral’ by the firm.

Cerulean Pharma Inc (CERU) shares turned negative on Mondays trading session with the shares closing down -0.02 points or -1.90% at a volume of 3,38,786. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.0799. The peak price level was also seen at $1.0799 while the days lowest was $1.02. Finally the shares closed at $1.03. The 52-week high of the shares is $5.2 while the 52-week low is $0.95. According to the latest information available, the market cap of the company is $28 M.

Cerulean Pharma Inc(CERU) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Earnings per share were $-0.40. Analysts had estimated an EPS of $-0.48.

Several Insider Transactions has been reported to the SEC. On Feb 23, 2016, David R Walt (director) purchased 2,291 shares at $2.08 per share price.Also, On Apr 9, 2015, Llc Cvf, (10% owner) purchased 333,333 shares at $6.00 per share price.

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. Its development-stage pipeline includes CRLX101 and CRLX301. The Company’s lead product candidate CRLX101 is a tumor targeted NDC in Phase II clinical development and has the potential to improve outcomes for patients in combination with other cancer treatments. A Phase II randomized controlled company-sponsored trial is conducted comparing CRLX101 administered in combination with Avastin in patients with renal cell carcinoma. CRLX301 is its second platform-generated clinical candidate is a tumor-targeted NDC in Phase I clinical development. CRLX301 is designed to concentrate in tumors and slowly release its anti-cancer payload docetaxel inside tumor cells.

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