Cerevel Therapeutics (NASDAQ:CERE – Get Rating) had its price target lifted by Cantor Fitzgerald from $41.00 to $46.00 in a report issued on Tuesday, The Fly reports.
Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of 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 initiated coverage on shares of Cerevel Therapeutics in a research note on Thursday, October 20th. They set a buy rating and a $39.00 price objective on the stock. HC Wainwright dropped their price objective on shares of Cerevel Therapeutics from $50.00 to $48.00 and set a buy rating on the stock in a research note on Wednesday, November 9th. Morgan Stanley upped their target price on shares of Cerevel Therapeutics from $39.00 to $50.00 and gave the stock an overweight rating in a research note on Monday, August 22nd. Finally, Wells Fargo & Company initiated coverage on shares of Cerevel Therapeutics in a research note on Monday, September 26th. They issued an overweight rating and a $38.00 target price on the stock. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Cerevel Therapeutics has a consensus rating of Moderate Buy and an average target price of $39.67.
Get Cerevel Therapeutics alerts:Cerevel Therapeutics Price Performance
Shares of NASDAQ CERE opened at $31.96 on Tuesday. Cerevel Therapeutics has a 1 year low of $19.86 and a 1 year high of $41.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 16.64 and a quick ratio of 16.64. The company's 50-day moving average is $27.81 and its 200 day moving average is $28.53. The stock has a market capitalization of $5.00 billion, a P/E ratio of -15.00 and a beta of 1.58.
Cerevel Therapeutics (NASDAQ:CERE – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.04). On average, sell-side analysts expect that Cerevel Therapeutics will post -2.36 earnings per share for the current year.Insider Activity at Cerevel Therapeutics
In related news, insider John Renger sold 25,000 shares of the firm's stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $30.00, for a total transaction of $750,000.00. Following the completion of the transaction, the insider now directly owns 2,704 shares of the company's stock, valued at $81,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider John Renger sold 25,000 shares of the firm's stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $30.00, for a total transaction of $750,000.00. Following the completion of the transaction, the insider now directly owns 2,704 shares of the company's stock, valued at $81,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO N Anthony Coles sold 50,000 shares of the 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 approximately $72,115.68. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Cerevel Therapeutics
Several institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its position in Cerevel Therapeutics by 46.8% during the second quarter. Nisa Investment Advisors LLC now owns 1,380 shares of the biotechnology company's stock valued at $36,000 after purchasing an additional 440 shares during the last quarter. Royal Bank of Canada lifted its position in Cerevel Therapeutics by 19.4% during the third quarter. Royal Bank of Canada now owns 2,959 shares of the biotechnology company's stock valued at $83,000 after purchasing an additional 480 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Cerevel Therapeutics by 9.5% during the first quarter. Teacher Retirement System of Texas now owns 9,159 shares of the biotechnology company's stock valued at $321,000 after purchasing an additional 795 shares during the last quarter. High Net Worth Advisory Group LLC bought a new position in Cerevel Therapeutics during the third quarter valued at $28,000. Finally, Principal Financial Group Inc. lifted 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 acquiring an additional 1,075 shares during the last quarter.
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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