Celsion (CLSN) Hits New 12-Month Low Following Weak Earnings

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Celsion Co. (NASDAQ:CLSN) reached a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $1.88 and last traded at $1.93, with a volume of 5784 shares. The stock had previously closed at $2.06.

The biotechnology company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.04). Celsion had a negative return on equity of 109.99% and a negative net margin of 4,479.42%. The business had revenue of $0.13 million during the quarter, compared to analysts’ expectations of $0.13 million.

A number of equities analysts have weighed in on CLSN shares. ValuEngine raised Celsion from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research raised Celsion from a “sell” rating to a “hold” rating in a research report on Friday, August 31st. Finally, Oppenheimer set a $9.00 target price on Celsion and gave the stock a “buy” rating in a research report on Thursday.

An institutional investor recently raised its position in Celsion stock. BlackRock Inc. grew its holdings in shares of Celsion Co. (NASDAQ:CLSN) by 72.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,844 shares of the biotechnology company’s stock after purchasing an additional 48,194 shares during the quarter. BlackRock Inc. owned approximately 0.65% of Celsion worth $339,000 as of its most recent filing with the Securities & Exchange Commission. 4.83% of the stock is currently owned by institutional investors.

The stock has a market cap of $38.51 million, a P/E ratio of -0.80 and a beta of 1.46. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.48.

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Celsion Company Profile (NASDAQ:CLSN)

Celsion Corporation, a development stage oncology drug company, focuses on the development and commercialization of directed chemotherapy, DNA-mediated immunotherapy, and RNA based therapy products for the treatment of cancer. The company's lead product includes ThermoDox, a liposomal encapsulation of doxorubicin that is in Phase III clinical trials for primary liver cancer; and under Phase II clinical trials to treat recurrent chest wall breast cancer.

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