Zacks Investment Research upgraded shares of Celsion (NASDAQ:CLSN) from a hold rating to a buy rating in a research note published on Tuesday. The brokerage currently has $3.00 target price on the biotechnology company’s stock.
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. “
Shares of CLSN traded down $0.04 during mid-day trading on Tuesday, reaching $2.60. The stock had a trading volume of 2,627 shares, compared to its average volume of 168,033. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.48. Celsion has a 52-week low of $1.75 and a 52-week high of $4.14. The firm has a market capitalization of $47.82 million, a P/E ratio of -1.09 and a beta of 1.12.
An institutional investor recently raised its position in Celsion stock. BlackRock Inc. raised its stake in Celsion Co. (NASDAQ:CLSN) by 72.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,844 shares of the biotechnology company’s stock after buying an additional 48,194 shares during the quarter. BlackRock Inc. owned about 0.65% of Celsion worth $339,000 at the end of the most recent quarter. Institutional investors and hedge funds own 4.78% of the company’s stock.
Celsion Company Profile
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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