Cerecor Inc (NASDAQ:CERC) was the target of a large decline in short interest in the month of November. As of November 29th, there was short interest totalling 674,300 shares, a decline of 18.3% from the November 14th total of 825,600 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average daily trading volume, of 58,500 shares, the short-interest ratio is presently 11.5 days.
A number of hedge funds and other institutional investors have recently bought and sold shares of CERC. Northern Trust Corp increased its holdings in shares of 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 purchasing an additional 17,999 shares during the period. Bank of New York Mellon Corp increased its stake in 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 acquiring an additional 42,885 shares during the period. Charles Schwab Investment Management Inc. bought a new position in Cerecor during the 2nd quarter worth $288,000. State Street Corp raised its holdings in Cerecor by 20.6% in the 3rd quarter. State Street Corp now owns 342,223 shares of the company’s stock valued at $1,126,000 after acquiring an additional 58,538 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Cerecor by 612.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 72,670 shares of the company’s stock valued at $355,000 after acquiring an additional 62,473 shares in the last quarter. 60.84% of the stock is owned by hedge funds and other institutional investors.
Shares of CERC traded up $0.01 during midday trading on Friday, reaching $4.41. 130,819 shares of the stock were exchanged, compared to its average volume of 76,433. The stock’s 50 day simple moving average is $3.48 and its 200 day simple moving average is $3.91. Cerecor has a twelve month low of $2.71 and a twelve month high of $7.65. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 0.78.
Cerecor (NASDAQ:CERC) last released its quarterly earnings results on Thursday, November 14th. The company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. Cerecor had a negative net margin of 113.66% and a negative return on equity of 121.32%. The business had revenue of $5.61 million for the quarter, compared to the consensus estimate of $5.15 million. On average, equities analysts expect that Cerecor will post -0.4 EPS for the current year.
Several research analysts have weighed in on CERC shares. Maxim Group reissued a “buy” rating and issued a $10.00 price target on shares of Cerecor in a report on Friday, November 15th. LADENBURG THALM/SH SH restated a “buy” rating and set a $10.00 price objective on shares of Cerecor in a report on Friday, December 6th. ValuEngine downgraded Cerecor from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 target price (up previously from $11.00) on shares of Cerecor in a research note on Monday, December 2nd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $10.67.
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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