Cerecor Inc (NASDAQ:CERC) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Cerecor Inc (NASDAQ:CERC) have earned a consensus rating of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $9.67.

Several equities research analysts recently commented on the stock. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Cerecor in a research report on Tuesday, July 2nd. TheStreet cut Cerecor from a “c-” rating to a “d+” rating in a report on Wednesday, May 29th. ValuEngine upgraded Cerecor from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Maxim Group set a $10.00 price target on Cerecor and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, HC Wainwright set a $11.00 price target on Cerecor and gave the company a “buy” rating in a report on Wednesday, August 21st.

In related news, major shareholder Armistice Capital Master Fund acquired 2,200,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought 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 SEC, which is available through this link. Also, Director Armistice Capital, Llc bought 1,000,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $2.95 per share, for a total transaction of $2,950,000.00. The disclosure for this purchase can be found here. Insiders acquired a total of 4,643,678 shares of company stock worth $14,224,147 in the last 90 days. Company insiders own 64.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CERC. Vanguard Group Inc. grew its stake in Cerecor by 56.5% in the second quarter. Vanguard Group Inc. now owns 678,000 shares of the company’s stock valued at $3,689,000 after purchasing an additional 244,657 shares in the last quarter. BlackRock Inc. raised its stake in shares of Cerecor by 4,046.6% during the 2nd quarter. BlackRock Inc. now owns 1,205,533 shares of the company’s stock worth $6,559,000 after purchasing an additional 1,176,460 shares in the last quarter. Northern Trust Corp raised its stake in shares of Cerecor by 47.4% during the 2nd quarter. Northern Trust Corp now owns 55,971 shares of the company’s stock worth $304,000 after purchasing an additional 17,999 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Cerecor by 294.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 57,428 shares of the company’s stock worth $312,000 after purchasing an additional 42,885 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Cerecor in the 2nd quarter valued at approximately $288,000. 57.31% of the stock is owned by hedge funds and other institutional investors.

Shares of CERC stock traded up $0.18 during trading hours on Friday, hitting $3.59. 77,618 shares of the company were exchanged, compared to its average volume of 127,537. Cerecor has a 52 week low of $2.71 and a 52 week high of $7.65. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average of $3.49 and a two-hundred day moving average of $4.89.

Cerecor Company Profile

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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