StockNews.com Initiates Coverage on Cyclacel Pharmaceuticals (NASDAQ:CYCC)

Investment analysts at StockNews.com assumed coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a research report issued to clients and investors on Thursday. The firm set a “sell” rating on the biotechnology company’s stock.

Separately, Roth Capital cut Cyclacel Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

Cyclacel Pharmaceuticals Stock Up 13.0 %

Cyclacel Pharmaceuticals stock opened at $0.48 on Thursday. Cyclacel Pharmaceuticals has a 52-week low of $0.38 and a 52-week high of $9.69. The company has a market cap of $1.03 million, a P/E ratio of -0.03 and a beta of 0.56. The business has a 50-day simple moving average of $0.92 and a two-hundred day simple moving average of $1.47.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) EPS for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.11. Cyclacel Pharmaceuticals had a negative net margin of 21,963.75% and a negative return on equity of 1,901.11%. During the same quarter in the previous year, the company earned ($6.60) earnings per share. Research analysts anticipate that Cyclacel Pharmaceuticals will post -2.29 EPS for the current fiscal year.

Institutional Trading of Cyclacel Pharmaceuticals

An institutional investor recently bought a new position in Cyclacel Pharmaceuticals stock. Armistice Capital LLC purchased a new stake in shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned 9.18% of Cyclacel Pharmaceuticals as of its most recent SEC filing. 23.58% 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 in the United States, the United Kingdom, and internationally. The company's lead product includes fadraciclib, a cyclin dependent kinase Inhibitors (CDK) that is in Phase 1/2 clinical trial for the treatment of solid tumors and hematological malignancies, as well as in combination with venetoclax to treat relapsed or refractory chronic lymphocytic leukemia; and Plogosertib, a polo-like kinase inhibitor program, which is in Phase 1/2 clinical trial for the treatment of advanced solid tumors and hematological malignancies.