Cyclacel Pharmaceuticals (CYCC) Rating Increased to Hold at Zacks Investment Research

Cyclacel Pharmaceuticals (NASDAQ:CYCC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

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. “

Separately, HC Wainwright reiterated a “buy” rating on shares of Cyclacel Pharmaceuticals in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $5.63.

Shares of NASDAQ:CYCC remained flat at $$0.69 during mid-day trading on Friday. 22,854 shares of the stock were exchanged, compared to its average volume of 75,393. The firm has a market capitalization of $11.87 million, a price-to-earnings ratio of -1.11 and a beta of 3.36. The company has a current ratio of 8.09, a quick ratio of 4.45 and a debt-to-equity ratio of 0.08. Cyclacel Pharmaceuticals has a 52 week low of $0.51 and a 52 week high of $1.87.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last issued its quarterly earnings results on Wednesday, March 27th. The biotechnology company reported ($0.17) EPS for the quarter, hitting analysts’ consensus estimates of ($0.17). The business had revenue of $0.15 million for the quarter. Research analysts anticipate that Cyclacel Pharmaceuticals will post -0.77 earnings per share for the current fiscal year.

An institutional investor recently raised its position in Cyclacel Pharmaceuticals stock. Renaissance Technologies LLC increased its position in shares of Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) by 186.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 604,200 shares of the biotechnology company’s stock after buying an additional 393,500 shares during the period. Renaissance Technologies LLC owned 3.51% of Cyclacel Pharmaceuticals worth $565,000 at the end of the most recent reporting period. 3.10% of the stock is currently owned by institutional investors.

Cyclacel Pharmaceuticals Company Profile

Cyclacel Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops medicines for the treatment of cancer and other proliferative diseases. The company's oncology development programs include CYC065, a cyclin dependent kinase Inhibitors (CDK) that is in Phase I clinical trial for the treatment of solid tumors, as well as in combination with venetoclax to treat relapsed or refractory chronic lymphocytic leukemia; and CYC140, a polo-like kinase inhibitor program, which is in Phase I clinical trial for the treatment of advanced leukemias.

Recommended Story: Trading Ex-Dividend Strategy

Get a free copy of the Zacks research report on Cyclacel Pharmaceuticals (CYCC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Cyclacel Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cyclacel Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.