State of New Jersey Common Pension Fund D purchased a new position in shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 75,569 shares of the biotechnology company's stock, valued at approximately $2,136,000. State of New Jersey Common Pension Fund D owned approximately 0.05% of Cerevel Therapeutics at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in CERE. High Net Worth Advisory Group LLC bought a new position in shares of Cerevel Therapeutics in the 3rd quarter valued at $28,000. Nisa Investment Advisors LLC lifted 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 valued at $36,000 after acquiring an additional 440 shares during the last quarter. Centaurus Financial Inc. bought a new position in shares of Cerevel Therapeutics in the 1st quarter valued at $105,000. Strs Ohio lifted its stake in shares of Cerevel Therapeutics by 143.8% in the 3rd quarter. Strs Ohio now owns 3,900 shares of the biotechnology company's stock valued at $110,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Amundi bought a new position in shares of Cerevel Therapeutics in the 2nd quarter valued at $190,000.
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Analyst Ratings Changes
A number of research analysts have recently commented on the company. Loop Capital started coverage on Cerevel Therapeutics in a research note on Tuesday, November 1st. They issued a "buy" rating and a $40.00 price target for the company. Bank of America initiated coverage on shares of Cerevel Therapeutics in a research report on Thursday, October 20th. They issued a "buy" rating and a $39.00 price target on the stock. The Goldman Sachs Group raised their price target on shares of Cerevel Therapeutics from $24.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, September 21st. JPMorgan Chase & Co. dropped their price target 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. Finally, HC Wainwright dropped their price target on shares of Cerevel Therapeutics from $50.00 to $48.00 and set a "buy" rating on the stock in a research report on Wednesday, November 9th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Cerevel Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $39.67.
Insider Activity
In related news, CEO N Anthony Coles sold 50,000 shares of the business's stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $29.94, for a total transaction of $1,497,000.00. Following the transaction, the chief executive officer now owns 2,704 shares in the company, valued at $80,957.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through
this link. Insiders own 4.30% of the company's stock.
Cerevel Therapeutics Trading Up 0.1 %
NASDAQ:CERE opened at $33.14 on Thursday. The company has a current ratio of 16.64, a quick ratio of 16.64 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $5.18 billion, a PE ratio of -15.56 and a beta of 1.47. The firm's 50 day moving average is $29.54 and its 200 day moving average is $29.27. Cerevel Therapeutics Holdings, Inc. has a 12 month low of $19.86 and a 12 month high of $41.46.
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 expect that Cerevel Therapeutics Holdings, Inc. will post -2.36 earnings per share for the current year.
Cerevel Therapeutics 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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