Cyclacel Pharmaceuticals (NASDAQ:CYCC) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a research note issued on Thursday. The firm set 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 Performance

Shares of NASDAQ CYCC opened at $0.46 on Thursday. The company’s 50 day moving average price is $0.41 and its 200-day moving average price is $0.99. Cyclacel Pharmaceuticals has a 52-week low of $0.31 and a 52-week high of $4.00. The company has a market capitalization of $2.89 million, a P/E ratio of -0.05 and a beta of 0.35.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last released its earnings results on Tuesday, November 12th. The biotechnology company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.36. The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.01 million. Cyclacel Pharmaceuticals had a negative net margin of 18,150.00% and a negative return on equity of 1,901.11%. Analysts forecast that Cyclacel Pharmaceuticals will post -1.95 earnings per share for the current year.

Hedge Funds 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) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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 filing with the Securities & Exchange Commission. 23.58% of the stock is currently owned by hedge funds and other 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.