Cerecor Inc (NASDAQ:CERC) Given Consensus Recommendation of “Buy” by Brokerages
Cerecor Inc (NASDAQ:CERC) has earned an average rating of “Buy” from the seven research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $10.75.
A number of analysts have recently issued reports on CERC shares. ValuEngine lowered Cerecor from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $10.00 price target on shares of Cerecor in a research note on Friday, December 6th. Maxim Group reaffirmed a “buy” rating and issued a $10.00 price target on shares of Cerecor in a research note on Friday, November 15th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target (up from $11.00) on shares of Cerecor in a research note on Monday, December 2nd. Finally, Oppenheimer started coverage on Cerecor in a research note on Friday. They issued an “outperform” rating and a $11.00 price target on the stock.
Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. purchased a new position in Cerecor during the second quarter worth approximately $288,000. Northern Trust Corp lifted its position in Cerecor by 47.4% during the second quarter. Northern Trust Corp now owns 55,971 shares of the company’s stock worth $304,000 after buying an additional 17,999 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Cerecor by 294.9% during the second quarter. Bank of New York Mellon Corp now owns 57,428 shares of the company’s stock worth $312,000 after buying an additional 42,885 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Cerecor by 612.7% during the second quarter. JPMorgan Chase & Co. now owns 72,670 shares of the company’s stock worth $355,000 after buying an additional 62,473 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Cerecor during the third quarter worth approximately $305,000. Hedge funds and other institutional investors own 60.84% of the company’s stock.
Cerecor (NASDAQ:CERC) last issued its quarterly earnings results on Thursday, November 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.06. The firm had revenue of $5.61 million for the quarter, compared to analyst estimates of $5.15 million. Cerecor had a negative return on equity of 121.32% and a negative net margin of 113.66%. As a group, equities research analysts expect that Cerecor will post -0.52 earnings per share for the current fiscal year.
Cerecor Inc, a pharmaceutical company, focuses on pediatric health care. Its lead product portfolio includes prescribed dietary supplements, such as Poly-Vi-Flor and Tri-Vi-Flor; and prescription drugs, such as Millipre, Ulesfia, Karbinal ER, AcipHex Sprinkle, and Cefaclor for oral suspension, as well as Flexichamber a medical device.
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