Shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE – Get Rating) have been assigned an average recommendation of "Moderate Buy" from the ten ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $39.67.
A number of research firms have weighed in on CERE. HC Wainwright reduced their target price on Cerevel Therapeutics from $50.00 to $48.00 and set a "buy" rating on the stock in a report on Wednesday, November 9th. The Goldman Sachs Group upped their price target on Cerevel Therapeutics from $24.00 to $28.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 21st. JPMorgan Chase & Co. cut their price target on Cerevel Therapeutics from $49.00 to $40.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 6th. Bank of America began coverage on Cerevel Therapeutics in a research note on Thursday, October 20th. They issued a "buy" rating and a $39.00 price target on the stock. Finally, Wells Fargo & Company began coverage on Cerevel Therapeutics in a research note on Monday, September 26th. They issued an "overweight" rating and a $38.00 price target on the stock.
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Cerevel Therapeutics Stock Up 3.1 %
CERE stock opened at $31.96 on Wednesday. Cerevel Therapeutics has a fifty-two week low of $19.86 and a fifty-two week high of $41.46. The business's 50 day moving average price is $27.81 and its two-hundred day moving average price is $28.53. The company has a debt-to-equity ratio of 0.56, a quick ratio of 16.64 and a current ratio of 16.64. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of -15.00 and a beta of 1.58.
Cerevel Therapeutics (NASDAQ:CERE – Get Rating) last posted its earnings results on Tuesday, November 8th. The biotechnology company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.04). As a group, analysts forecast that Cerevel Therapeutics will post -2.36 earnings per share for the current fiscal year.
Insider Activity at Cerevel Therapeutics
In related news, insider John Renger sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $30.00, for a total value of $750,000.00. Following the transaction, the insider now directly owns 2,704 shares of the company's stock, valued at approximately $81,120. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO N Anthony Coles sold 50,000 shares of the stock in a transaction on Friday, December 9th. The stock was sold at an average price of $26.67, for a total transaction of $1,333,500.00. Following the transaction, the chief executive officer now directly owns 2,704 shares of the company's stock, valued at approximately $72,115.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Renger sold 25,000 shares of the stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $30.00, for a total value of $750,000.00. Following the transaction, the insider now directly owns 2,704 shares in the company, valued at $81,120. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Cerevel Therapeutics
Several hedge funds and other institutional investors have recently modified their holdings of the company. High Net Worth Advisory Group LLC purchased a new stake in shares of Cerevel Therapeutics in the 3rd quarter worth $28,000. Nisa Investment Advisors LLC increased its stake in shares of Cerevel Therapeutics by 46.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,380 shares of the biotechnology company's stock worth $36,000 after purchasing an additional 440 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Cerevel Therapeutics in the 3rd quarter worth $42,000. Royal Bank of Canada increased its stake in shares of Cerevel Therapeutics by 19.4% in the 3rd quarter. Royal Bank of Canada now owns 2,959 shares of the biotechnology company's stock worth $83,000 after purchasing an additional 480 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in shares of Cerevel Therapeutics in the 1st quarter worth $105,000.
About Cerevel Therapeutics
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Cerevel Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, engages in the development of various therapies for neuroscience diseases. It is developing emraclidine, a positive allosteric modulator (PAM) that is in phase 1b clinical trials for the treatment of schizophrenia; and Darigabat, a PAM, which is in Phase 2 proof-of-concept trial in patients with drug-resistant focal onset seizures in epilepsy or focal epilepsy, as well as in phase 1 trial to treat acute anxiety.
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