Insider Buying: Cerecor Inc (NASDAQ:CERC) Major Shareholder Acquires $6,710,000.00 in Stock
Cerecor Inc (NASDAQ:CERC) major shareholder Armistice Capital Master Fund bought 2,200,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $3.05 per share, for a total transaction of $6,710,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Armistice Capital Master Fund also recently made the following trade(s):
- On Friday, August 30th, Armistice Capital Master Fund purchased 41,764 shares of Cerecor stock. The stock was acquired at an average cost of $3.22 per share, with a total value of $134,480.08.
- On Monday, August 19th, Armistice Capital Master Fund purchased 12,184 shares of Cerecor stock. The stock was acquired at an average cost of $3.46 per share, with a total value of $42,156.64.
- On Wednesday, August 14th, Armistice Capital Master Fund purchased 100,000 shares of Cerecor stock. The shares were acquired at an average price of $3.33 per share, with a total value of $333,000.00.
Shares of NASDAQ:CERC opened at $3.59 on Thursday. The company’s fifty day moving average is $3.49 and its 200-day moving average is $4.89. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.74. Cerecor Inc has a 52 week low of $2.71 and a 52 week high of $7.65.
CERC has been the topic of a number of recent research reports. Maxim Group set a $10.00 price objective on Cerecor and gave the company a “buy” rating in a report on Friday, August 9th. ValuEngine raised Cerecor from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. LADENBURG THALM/SH SH restated a “buy” rating and set a $8.00 target price on shares of Cerecor in a research report on Tuesday, July 2nd. TheStreet downgraded Cerecor from a “c-” rating to a “d+” rating in a research report on Wednesday, May 29th. Finally, HC Wainwright set a $11.00 price target on Cerecor and gave the company a “buy” rating in a research note on Wednesday, August 21st. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $9.67.
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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