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

Cyclacel Pharmaceuticals (NASDAQ:CYCC) was downgraded by stock analysts at Roth Capital from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

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

Cyclacel Pharmaceuticals Stock Down 17.9 %

CYCC opened at $0.87 on Wednesday. The firm has a market cap of $1.87 million, a PE ratio of -0.05 and a beta of 0.51. The business has a fifty day simple moving average of $1.05 and a 200-day simple moving average of $1.57. Cyclacel Pharmaceuticals has a fifty-two week low of $0.75 and a fifty-two week high of $10.12.

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

Institutional Investors Weigh In On Cyclacel Pharmaceuticals

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