Cascadian Therapeutics (CASC) Jumps: Stock Rises 10.4%

Cascadian Therapeutics, Inc. CASC was a big mover last session, as the company saw its shares rise over 10% on the day. Shares gained after the company announced the pricing of the previously declared offering of 35,000,000 shares of its common stock at a price of 80 cents per share to the public. The news also led to far more shares changing hands than in a normal session, resulting in solid volume. This breaks the recent downtrend for the company as the stock is now below 21.5% in the past one-month time frame.

The company has seen one negative estimate revision over the past 30 days, while the Zacks Consensus Estimate remained unchanged. Yesterday's price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Cascadian Therapeutics has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Another better-ranked stock in the Biomedical industry is ANI Pharmaceuticals, Inc. ANIP sporting a Zacks Rank #1 (Strong Buy).

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