Cyclacel Pharmaceuticals (NASDAQ:CYCC) Downgraded by Roth Capital to “Hold”

Roth Capital lowered shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) from a strong-buy rating to a hold rating in a report released on Wednesday morning, Zacks.com reports.

Separately, StockNews.com assumed coverage on Cyclacel Pharmaceuticals in a research note on Tuesday. They issued a “sell” rating for the company.

Cyclacel Pharmaceuticals Stock Up 3.4 %

Shares of NASDAQ CYCC opened at $0.90 on Wednesday. Cyclacel Pharmaceuticals has a 12-month low of $0.75 and a 12-month high of $10.12. The firm’s 50-day simple moving average is $1.05 and its 200 day simple moving average is $1.57. The company has a market cap of $1.93 million, a price-to-earnings ratio of -0.05 and a beta of 0.51.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.72) earnings per share (EPS) for the quarter, topping 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 last year, the business earned ($6.60) EPS. On average, equities analysts expect that Cyclacel Pharmaceuticals will post -2.29 earnings per share for the current year.

Institutional Investors Weigh In On Cyclacel Pharmaceuticals

A hedge fund recently bought a new stake in Cyclacel Pharmaceuticals stock. Armistice Capital LLC acquired a new stake in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned about 9.18% of Cyclacel Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors 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.