Cyclacel Pharmaceuticals (CYCC) Coverage Initiated at Roth Capital

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Roth Capital started coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a report issued on Wednesday, The Fly reports. The firm issued a buy rating and a $8.00 price target on the biotechnology company’s stock.

Other research analysts have also issued reports about the stock. HC Wainwright set a $7.00 price target on shares of Cyclacel Pharmaceuticals and gave the stock a buy rating in a research note on Friday, August 10th. Zacks Investment Research upgraded shares of Cyclacel Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, June 6th.

Shares of Cyclacel Pharmaceuticals stock opened at $1.48 on Wednesday. Cyclacel Pharmaceuticals has a 1 year low of $1.28 and a 1 year high of $2.27.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its quarterly earnings results on Thursday, August 9th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.04). sell-side analysts expect that Cyclacel Pharmaceuticals will post -0.43 EPS for the current fiscal year.

A hedge fund recently raised its stake in Cyclacel Pharmaceuticals stock. Renaissance Technologies LLC boosted its position in shares of Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) by 513.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 91,400 shares of the biotechnology company’s stock after purchasing an additional 76,500 shares during the quarter. Renaissance Technologies LLC owned about 0.76% of Cyclacel Pharmaceuticals worth $130,000 at the end of the most recent reporting period. 5.61% of the stock is currently owned by institutional investors and hedge funds.

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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