Celsion (CLSN) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Celsion (NASDAQ:CLSN) from a buy rating to a hold rating in a report issued on Thursday morning.

According to Zacks, “Celsion is dedicated to the development and commercialization of oncology drugs including tumor-targeting treatments using focused heat energy in combination with heat activated drug delivery systems. Celsion has research, license or commercialization agreements with leading institutions such as the National Institutes of Health, Duke University Medical Center, University of Hong Kong, North Shore Long Island Jewish Health System. “

A number of other research analysts have also commented on the company. ValuEngine upgraded Celsion from a strong sell rating to a sell rating in a research note on Saturday, December 9th. Maxim Group upgraded Celsion from a hold rating to a buy rating and set a $7.00 target price for the company in a research note on Wednesday, October 4th. Finally, Oppenheimer started coverage on Celsion in a research note on Tuesday, November 21st. They issued an outperform rating and a $9.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $11.90.

Shares of Celsion (NASDAQ:CLSN) traded down $0.04 during mid-day trading on Thursday, hitting $2.75. The stock had a trading volume of 336,300 shares, compared to its average volume of 682,467. Celsion has a one year low of $1.24 and a one year high of $8.82. The firm has a market capitalization of $44.17, a price-to-earnings ratio of -0.47 and a beta of 1.22.

Celsion (NASDAQ:CLSN) last issued its earnings results on Tuesday, November 14th. The biotechnology company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.17. Celsion had a negative return on equity of 282.94% and a negative net margin of 4,292.80%. sell-side analysts predict that Celsion will post -2.46 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Celsion stock. Sabby Management LLC bought a new stake in Celsion Co. (NASDAQ:CLSN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 108,843 shares of the biotechnology company’s stock, valued at approximately $223,000. Sabby Management LLC owned approximately 1.30% of Celsion at the end of the most recent quarter. Institutional investors own 3.97% of the company’s stock.

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About Celsion

Celsion Corporation is an oncology drug development company. The Company’s product candidate is ThermoDox, a heat-activated liposomal encapsulation of doxorubicin, which is in Phase III clinical trial for treatment of primary liver cancer (the OPTIMA Study) and a Phase II clinical trial for treatment of recurrent chest wall breast cancer (the DIGNITY Study).

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