Zacks Investment Research Lowers Curis (CRIS) to Sell
Zacks Investment Research cut shares of Curis (NASDAQ:CRIS) from a hold rating to a sell rating in a research note released on Tuesday morning.
According to Zacks, “Curis, Inc. is a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, with technologies that utilize regulatory pathways that control repair and regeneration. Curis’ product development involves the use of small molecules or proteins to modulate these pathways. The company has successfully used this technology and product development approach to produce several promising drug product candidates in the fields of cancer, neurological disorders, hair growth, kidney and other diseases, as well as cardiovascular disease. “
Several other research analysts have also issued reports on the stock. Guggenheim assumed coverage on shares of Curis in a research report on Monday, October 23rd. They issued a buy rating and a $7.00 target price for the company. ValuEngine lowered shares of Curis from a hold rating to a sell rating in a research report on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $6.50.
Shares of Curis (CRIS) remained flat at $$0.68 during trading hours on Tuesday. The company’s stock had a trading volume of 1,032,400 shares, compared to its average volume of 1,294,000. Curis has a 52 week low of $0.67 and a 52 week high of $3.22. The company has a market capitalization of $113.08, a PE ratio of -1.74 and a beta of 1.63. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.24.
Curis (NASDAQ:CRIS) last announced its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). Curis had a negative return on equity of 250.58% and a negative net margin of 629.29%. The company had revenue of $2.44 million during the quarter, compared to analysts’ expectations of $2.19 million. During the same quarter last year, the firm posted ($0.21) earnings per share. The firm’s revenue was up 38.6% on a year-over-year basis. equities research analysts predict that Curis will post -0.41 EPS for the current year.
In related news, CEO Ali Ph.D. Fattaey bought 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was bought at an average cost of $1.06 per share, for a total transaction of $53,000.00. Following the completion of the transaction, the chief executive officer now owns 115,890 shares of the company’s stock, valued at $122,843.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.07% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of CRIS. First Eagle Investment Management LLC boosted its position in Curis by 10.4% during the third quarter. First Eagle Investment Management LLC now owns 26,508,672 shares of the biotechnology company’s stock valued at $39,498,000 after buying an additional 2,500,000 shares during the period. JPMorgan Chase & Co. boosted its position in Curis by 62,201.8% during the third quarter. JPMorgan Chase & Co. now owns 2,381,798 shares of the biotechnology company’s stock valued at $3,691,000 after buying an additional 2,377,975 shares during the period. State Street Corp boosted its position in Curis by 10.4% during the second quarter. State Street Corp now owns 1,857,044 shares of the biotechnology company’s stock valued at $3,511,000 after buying an additional 175,424 shares during the period. Vanguard Group Inc. boosted its position in Curis by 2.6% during the second quarter. Vanguard Group Inc. now owns 4,955,068 shares of the biotechnology company’s stock valued at $9,365,000 after buying an additional 127,443 shares during the period. Finally, State of Wisconsin Investment Board purchased a new stake in Curis during the second quarter valued at about $163,000. Institutional investors and hedge funds own 55.22% of the company’s stock.
Curis Company Profile
Curis, Inc is a biotechnology company seeking to develop and commercialize drug candidates for the treatment of cancers. The Company’s drug candidate is CUDC-907, an orally-available, small molecule inhibitor of histone deacetylase (HDAC) and phosphatidylinositol-3-kinase (PI3K) enzymes. CUDC-907 is an oral, dual inhibitor of Class I and II HDAC, as well as Class I PI3K enzymes.
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