Zacks Investment Research Lowers Celsion (CLSN) to Hold

Zacks Investment Research cut shares of Celsion (NASDAQ:CLSN) from a buy rating to a hold rating in a research note issued to investors on Thursday.

According to Zacks, “Celsion is dedicated to the development and commercialization of oncology drugs including tumor-targeting treatments using focused heat energy in combination with heat activated drug delivery systems. Celsion has research, license or commercialization agreements with leading institutions such as the National Institutes of Health, Duke University Medical Center, University of Hong Kong, North Shore Long Island Jewish Health System. “

Several other research analysts have also commented on the company. Oppenheimer started coverage on Celsion in a research report on Tuesday, November 21st. They set an outperform rating and a $9.00 price target for the company. ValuEngine lowered Celsion from a sell rating to a strong sell rating in a research report on Wednesday, November 15th. Finally, Maxim Group upgraded Celsion from a hold rating to a buy rating and set a $7.00 price target for the company in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $11.90.

Celsion (NASDAQ CLSN) traded down $0.04 during mid-day trading on Thursday, reaching $2.75. The company’s stock had a trading volume of 336,300 shares, compared to its average volume of 682,467. The firm has a market capitalization of $44.17, a PE ratio of -0.47 and a beta of 1.22. Celsion has a one year low of $1.24 and a one year high of $8.82.

Celsion (NASDAQ:CLSN) last posted its earnings results on Tuesday, November 14th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.17. Celsion had a negative return on equity of 282.94% and a negative net margin of 4,292.80%. research analysts anticipate that Celsion will post -2.46 EPS for the current fiscal year.

An institutional investor recently bought a new position in Celsion stock. Sabby Management LLC bought a new stake in Celsion Co. (NASDAQ:CLSN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 108,843 shares of the biotechnology company’s stock, valued at approximately $223,000. Sabby Management LLC owned 1.30% of Celsion at the end of the most recent quarter. Hedge funds and other institutional investors own 3.97% of the company’s stock.

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Celsion Company Profile

Celsion Corporation is an oncology drug development company. The Company’s product candidate is ThermoDox, a heat-activated liposomal encapsulation of doxorubicin, which is in Phase III clinical trial for treatment of primary liver cancer (the OPTIMA Study) and a Phase II clinical trial for treatment of recurrent chest wall breast cancer (the DIGNITY Study).

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