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

StockNews.com began coverage on shares of Cyclacel Pharmaceuticals (NASDAQ:CYCC) in a report released on Sunday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

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

Cyclacel Pharmaceuticals Stock Up 17.4 %

Shares of NASDAQ:CYCC opened at $0.41 on Friday. The company has a market cap of $2.55 million, a P/E ratio of -0.04 and a beta of 0.56. Cyclacel Pharmaceuticals has a 52 week low of $0.32 and a 52 week high of $6.00. The business has a fifty day simple moving average of $0.71 and a 200-day simple moving average of $1.28.

Cyclacel Pharmaceuticals (NASDAQ:CYCC) last announced its quarterly earnings data on Tuesday, November 12th. The biotechnology company reported ($0.18) EPS for the quarter, beating 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 business had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.01 million. Sell-side analysts expect that Cyclacel Pharmaceuticals will post -1.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Cyclacel Pharmaceuticals stock. Armistice Capital LLC purchased a new position in Cyclacel Pharmaceuticals, Inc. (NASDAQ:CYCC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 134,000 shares of the biotechnology company’s stock, valued at approximately $217,000. Armistice Capital LLC owned approximately 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 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.