Cyclacel Pharmaceuticals (NASDAQ:BGMS) Trading 11.9% Higher – Time to Buy?

Shares of Cyclacel Pharmaceuticals, Inc. (NASDAQ:BGMS) shot up 11.9% during mid-day trading on Friday . The stock traded as high as $1.6613 and last traded at $1.60. 70,127 shares traded hands during trading, an increase of 129% from the average session volume of 30,572 shares. The stock had previously closed at $1.43.

Wall Street Analysts Forecast Growth

BGMS has been the topic of several recent research reports. Wall Street Zen upgraded Cyclacel Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Cyclacel Pharmaceuticals in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Cyclacel Pharmaceuticals Trading Up 11.9%

The firm has a market capitalization of $7.84 million, a P/E ratio of -0.02 and a beta of -0.45. The company has a fifty day moving average of $1.46.

Cyclacel Pharmaceuticals Company Profile

Cyclacel Pharmaceuticals is a clinical-stage biopharmaceutical company that focuses on developing small-molecule therapies that target the cell cycle and related regulatory pathways for the treatment of cancer and other proliferative diseases. The company’s research and development efforts center on kinase and cell-cycle inhibitors designed to disrupt tumor growth and induce cancer cell death. Cyclacel advances programs through preclinical development and clinical trials with the aim of delivering new therapeutic options for patients with solid tumors and hematologic malignancies.

Key activities at Cyclacel include in-house drug discovery, translational research, and the clinical development of lead candidate molecules.