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

StockNews.com assumed coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a research note released on Tuesday. The firm issued a sell rating on the biotechnology company’s stock.

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

Cyclacel Pharmaceuticals Stock Up 7.1 %

NASDAQ:CYCC opened at $0.37 on Tuesday. Cyclacel Pharmaceuticals has a 1-year low of $0.32 and a 1-year high of $4.38. The firm has a market capitalization of $2.31 million, a price-to-earnings ratio of -0.04 and a beta of 0.38. The stock has a fifty day simple moving average of $0.58 and a 200 day simple moving average of $1.14.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.36. Cyclacel Pharmaceuticals had a negative return on equity of 1,901.11% and a negative net margin of 18,150.00%. The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.01 million. Equities analysts predict that Cyclacel Pharmaceuticals will post -1.95 earnings per share for the current year.

Institutional Investors Weigh In On 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) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned about 9.18% of Cyclacel Pharmaceuticals at the end of the most recent reporting period. Institutional investors and hedge funds own 23.58% of the company’s stock.

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.