Celsion Corporation (NASDAQ:CLSN): Zacks Rates the Stock for ‘Buy’

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Dallas, Texas 09/23/2013 (Financialstrend) – A biopharmaceutical company specialized in oncology drug development, Celsion Corporation (NASDAQ:CLSN), develops treatment for patients suffering with difficult to treat forms of cancer. Its lead candidates are based on its proprietary heat activated liposomal technology. Company’s lead product ThermoDox (doxorubicin) is under Phase II/III clinical trials for its potential chemotherapeutic effect on colorectal liver metastasis and recurrent chest wall breast cancer (Phase II) and for primary liver cancer (Phase III).

In the last trading session on Friday, September 20, 2013 the stock gained over 2.5% before closing to $1.22 which was also the intraday high level for the stock. The company has market capitalization of $74.62 million with 61.16 million shares outstanding. The stock of the company has traded between 52 week range of $0.75 and $9.44. Its average share traded volume was 1.78 million in comparison to its total volume of 1.85 million. The one month performance graph of the company proved it as a +11.42% of percentage gainer.

After observing the percentage of the float that is sold short for Celsion Corporation (NASDAQ:CLSN) then, it can be seen that investors appear to be quite bearish for the company. There are suggestions for an extreme level of bearishness for the company as currently more than 20% of the float is sold short.

However, it is important to note that despite of the pessimism, the earnings estimates of the company are moving higher. And as per Zacks report, because of these rising estimates the company is rated with “BUY”. Zacks is looking for shares of the company to move higher in the coming week, despite the negativity surrounding the firm.

Recently, on Sept. 16, 2013 Celsion Corporation (NASDAQ:CLSN) announced that Ronnie T.P. Poon, Professor of Surgery and Lead Asia Pacific Principal Investigator for the company’s Phase III HEAT Study of ThermoDox in hepatocellular carcinoma (HCC) reviewed the official clinical trial results of the HEAT study at the 7th Annual Conference of the International Liver Cancer Association which was organized over the weekend.

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