Celsion (NASDAQ:CLSN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The firm presently has a $1.50 price objective on the biotechnology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.78% from the stock’s previous close.
According to Zacks, “Celsion is dedicated to the development and commercialization of oncology drugs including tumor-targeting treatments using focused heat energy in combination with heat activated drug delivery systems. Celsion has research, license or commercialization agreements with leading institutions such as the National Institutes of Health, Duke University Medical Center, University of Hong Kong, North Shore Long Island Jewish Health System. “
CLSN has been the topic of a number of other reports. ValuEngine raised Celsion from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Brookline Capital Management reaffirmed a “buy” rating on shares of Celsion in a research note on Thursday, July 25th.
Celsion (NASDAQ:CLSN) last released its quarterly earnings results on Friday, November 15th. The biotechnology company reported ($0.25) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.05. Celsion had a negative return on equity of 57.46% and a negative net margin of 1,653.20%. The business had revenue of $0.13 million for the quarter, compared to the consensus estimate of $0.13 million. As a group, research analysts forecast that Celsion will post -0.95 earnings per share for the current year.
A hedge fund recently raised its stake in Celsion stock. BlackRock Inc. boosted its holdings in Celsion Co. (NASDAQ:CLSN) by 5.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,332 shares of the biotechnology company’s stock after purchasing an additional 7,070 shares during the period. BlackRock Inc. owned approximately 0.71% of Celsion worth $267,000 at the end of the most recent reporting period. 5.33% of the stock is currently owned by institutional investors.
Celsion Company Profile
Celsion Corporation, a development stage oncology drug company, focuses on the development and commercialization of directed chemotherapies, DNA-mediated immunotherapy, and RNA based therapies for the treatment of cancer. Its lead product candidate is ThermoDox, a liposomal encapsulation of doxorubicin that is in Phase III clinical trial for treating primary liver cancer.
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