Zacks Investment Research Downgrades Stemline Therapeutics (NASDAQ:STML) to Sell

Zacks Investment Research lowered shares of Stemline Therapeutics (NASDAQ:STML) from a hold rating to a sell rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Stemline Therapeutics, Inc. is a biopharmaceutical company developing oncology therapeutics that target cancer stem cells and tumor bulk. The company is developing SL-401, a biologic-drug conjugate, for relapsed or refractory acute myeloid leukemia; and SL-701, a synthetic peptide vaccine, for pediatric and adult high-grade gliomas. Stemline Therapeutics, Inc. is based in New York. “

A number of other brokerages also recently weighed in on STML. HC Wainwright restated a buy rating and set a $35.00 price objective on shares of Stemline Therapeutics in a research report on Wednesday, December 11th. BidaskClub downgraded shares of Stemline Therapeutics from a buy rating to a hold rating in a research report on Friday, January 10th. Alliance Global Partners assumed coverage on shares of Stemline Therapeutics in a research report on Monday, November 25th. They set a buy rating and a $21.00 price objective on the stock. Cowen restated a buy rating on shares of Stemline Therapeutics in a research report on Wednesday, September 18th. Finally, Cantor Fitzgerald assumed coverage on shares of Stemline Therapeutics in a research report on Tuesday, December 24th. They set an overweight rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $22.14.

Stemline Therapeutics stock remained flat at $$7.03 during midday trading on Tuesday. 1,317,995 shares of the company were exchanged, compared to its average volume of 1,641,183. The stock has a market cap of $352.41 million, a price-to-earnings ratio of -2.35 and a beta of 1.40. The company’s 50 day simple moving average is $10.12 and its 200 day simple moving average is $11.41. Stemline Therapeutics has a 12 month low of $6.01 and a 12 month high of $18.22.

Stemline Therapeutics (NASDAQ:STML) last issued its quarterly earnings data on Thursday, November 7th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.08. The company had revenue of $13.33 million for the quarter, compared to the consensus estimate of $13.40 million. Research analysts forecast that Stemline Therapeutics will post -1.78 earnings per share for the current year.

In other Stemline Therapeutics news, COO Kenneth Hoberman sold 13,228 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $10.37, for a total transaction of $137,174.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.10% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Stemline Therapeutics by 51.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,297 shares of the biopharmaceutical company’s stock valued at $45,000 after buying an additional 1,466 shares during the last quarter. Bank of Montreal Can purchased a new stake in Stemline Therapeutics during the second quarter valued at approximately $52,000. Tower Research Capital LLC TRC increased its holdings in Stemline Therapeutics by 364.4% during the third quarter. Tower Research Capital LLC TRC now owns 7,115 shares of the biopharmaceutical company’s stock valued at $74,000 after buying an additional 5,583 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Stemline Therapeutics by 18.5% during the second quarter. JPMorgan Chase & Co. now owns 11,004 shares of the biopharmaceutical company’s stock valued at $166,000 after buying an additional 1,715 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY increased its holdings in Stemline Therapeutics by 56.7% during the first quarter. Metropolitan Life Insurance Co NY now owns 13,358 shares of the biopharmaceutical company’s stock valued at $171,000 after buying an additional 4,835 shares during the last quarter. 85.00% of the stock is owned by institutional investors and hedge funds.

About Stemline Therapeutics

Stemline Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery, acquisition, development, and commercialization of oncology therapeutics in the United States and internationally. The company offers ELZONRIS, a targeted therapy directed to the interleukin-3 receptor (CD123) for patients with blastic plasmacytoid dendritic cell neoplasm in adults, and in pediatric patients two years and older.

See Also: What are popular green investing opportunities?

Get a free copy of the Zacks research report on Stemline Therapeutics (STML)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Stemline Therapeutics (NASDAQ:STML)

Receive News & Ratings for Stemline Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stemline Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.