Cerecor Inc. (CERC) Upgraded to “Sell” by ValuEngine
Cerecor Inc. (NASDAQ:CERC) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Tuesday.
Shares of Cerecor (CERC) traded down $0.05 during trading hours on Tuesday, hitting $1.10. 175,727 shares of the company were exchanged, compared to its average volume of 475,264. Cerecor has a 52 week low of $0.34 and a 52 week high of $5.60.
Cerecor (NASDAQ:CERC) last issued its quarterly earnings results on Monday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.15. The company had revenue of $0.16 million for the quarter. Cerecor had a negative net margin of 1,106.99% and a negative return on equity of 1,325.84%. analysts predict that Cerecor will post -0.8 earnings per share for the current fiscal year.
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In related news, major shareholder Armistice Capital Master Fund purchased 954,228 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were bought at an average cost of $0.61 per share, with a total value of $582,079.08. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 1,638,693 shares of company stock worth $1,053,475 over the last three months. 10.70% of the stock is owned by insiders.
Cerecor, Inc is a clinical stage biopharmaceutical company. The Company is engaged in developing drug candidates for patients with neurological and psychiatric disorders. The Company has a portfolio of clinical and preclinical compounds that it is developing for a range of indications, including CERC-301, which is an adjunctive treatment for major depressive disorder (MDD); CERC-501, which is for substance use disorders and adjunctive treatment of MDD, and CERC-406, which is for the treatment of cognitive impairment.
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