Cyclacel Pharmaceuticals (CYCC) Downgraded by Zacks Investment Research to “Hold”

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Cyclacel Pharmaceuticals (NASDAQ:CYCC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.

According to Zacks, “CYCLACEL is a biopharmaceutical company dedicated to the discovery, development and commercialization of novel, mechanism-targeted drugs to treat human cancers and other serious disorders. Three orally-available Cyclacel drugs are in clinical development. Sapacitabine, a cell cycle modulating nucleoside analog, is in Phase 2 studies for the treatment of acute myeloid leukemia in the elderly, myelodysplastic syndromes and cutaneous T-cell lymphoma. Seliciclib (CYC202 or R-roscovitine), a CDK inhibitor, is in Phase 2 for the treatment of lung cancer and nasopharyngeal cancer. “

Other equities analysts have also issued research reports about the stock. ValuEngine raised shares of Cyclacel Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Roth Capital set a $8.00 price target on shares of Cyclacel Pharmaceuticals and gave the stock a “buy” rating in a report on Thursday, October 4th. LADENBURG THALM/SH SH started coverage on shares of Cyclacel Pharmaceuticals in a report on Friday, September 7th. They issued a “buy” rating and a $6.25 price target on the stock. Finally, HC Wainwright set a $7.00 price target on shares of Cyclacel Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $5.63.

Shares of CYCC stock traded down $0.03 on Monday, hitting $1.07. 35,400 shares of the company’s stock traded hands, compared to its average volume of 119,683. Cyclacel Pharmaceuticals has a one year low of $1.05 and a one year high of $2.25.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last released its earnings results on Monday, November 12th. The biotechnology company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.01). Research analysts expect that Cyclacel Pharmaceuticals will post -0.63 earnings per share for the current year.

A hedge fund recently raised its stake in Cyclacel Pharmaceuticals stock. Renaissance Technologies LLC boosted its position in Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) by 513.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 91,400 shares of the biotechnology company’s stock after acquiring an additional 76,500 shares during the period. Renaissance Technologies LLC owned 0.76% of Cyclacel Pharmaceuticals worth $130,000 at the end of the most recent reporting period. 5.62% of the stock is currently owned by hedge funds and other institutional investors.

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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