Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE – Get Rating) has earned an average rating of "Moderate Buy" from the ten analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $39.67.
Several research analysts have recently weighed in on the stock. Mizuho dropped their target price on shares of Cerevel Therapeutics from $32.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, November 10th. JPMorgan Chase & Co. dropped their target price on shares of Cerevel Therapeutics from $49.00 to $40.00 and set an "overweight" rating on the stock in a research report on Tuesday, December 6th. The Goldman Sachs Group raised their price target on shares of Cerevel Therapeutics from $24.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, September 21st. Wells Fargo & Company started coverage on shares of Cerevel Therapeutics in a report on Monday, September 26th. They set an "overweight" rating and a $38.00 price target for the company. Finally, HC Wainwright decreased their price target on shares of Cerevel Therapeutics from $50.00 to $48.00 and set a "buy" rating for the company in a report on Wednesday, November 9th.
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Insider Buying and Selling
In related news, CEO N Anthony Coles sold 50,000 shares of the business's stock in a transaction on Friday, December 9th. The shares were 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 owns 2,704 shares of the company's stock, valued at $72,115.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.30% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Cerevel Therapeutics
Several institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its holdings in Cerevel Therapeutics by 46.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,380 shares of the biotechnology company's stock valued at $36,000 after buying an additional 440 shares during the period. Royal Bank of Canada grew its holdings 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 during the last quarter. High Net Worth Advisory Group LLC bought a new stake in shares of Cerevel Therapeutics in the 3rd quarter worth about $28,000. Principal Financial Group Inc. grew its holdings in shares of Cerevel Therapeutics by 4.4% in the 2nd quarter. Principal Financial Group Inc. now owns 25,309 shares of the biotechnology company's stock worth $669,000 after purchasing an additional 1,075 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Cerevel Therapeutics in the 3rd quarter worth about $42,000.
Cerevel Therapeutics Trading Down 1.3 %
Shares of NASDAQ:CERE opened at $32.79 on Friday. The company has a market cap of $5.13 billion, a PE ratio of -15.39 and a beta of 1.47. The company's 50-day moving average price is $29.13 and its 200 day moving average price is $29.12. Cerevel Therapeutics has a fifty-two week low of $19.86 and a fifty-two week high of $41.46. The company has a quick ratio of 16.64, a current ratio of 16.64 and a debt-to-equity ratio of 0.56.
Cerevel Therapeutics (NASDAQ:CERE – Get Rating) last released its quarterly earnings results on Tuesday, November 8th. The biotechnology company reported ($0.66) EPS for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.04). Sell-side analysts anticipate that Cerevel Therapeutics will post -2.36 earnings per share for the current year.
Cerevel Therapeutics Company Profile
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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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