Wall Street brokerages expect Cerecor Inc (NASDAQ:CERC) to announce $1.50 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Cerecor’s earnings, with estimates ranging from $1.00 million to $2.00 million. Cerecor posted sales of $5.61 million during the same quarter last year, which suggests a negative year-over-year growth rate of 73.3%. The business is scheduled to report its next earnings results on Thursday, November 12th.
On average, analysts expect that Cerecor will report full year sales of $6.60 million for the current fiscal year, with estimates ranging from $5.10 million to $8.10 million. For the next financial year, analysts anticipate that the company will post sales of $8.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Cerecor.
A number of analysts have recently weighed in on CERC shares. LADENBURG THALM/SH SH reiterated a “buy” rating and set a $10.00 target price on shares of Cerecor in a research report on Sunday, June 7th. Oppenheimer cut their target price on Cerecor from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $10.50.
Shares of NASDAQ:CERC traded up $0.03 during trading on Monday, reaching $2.23. 406,300 shares of the company traded hands, compared to its average volume of 404,234. The company’s 50 day moving average is $2.66 and its two-hundred day moving average is $2.64. The firm has a market capitalization of $167.03 million, a PE ratio of -7.43 and a beta of 1.69. Cerecor has a 52 week low of $1.52 and a 52 week high of $6.19.
In other Cerecor news, CEO Michael F. Cola acquired 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average cost of $2.50 per share, for a total transaction of $250,000.00. Following the transaction, the chief executive officer now directly owns 175,746 shares in the company, valued at $439,365. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Armistice Capital, Llc acquired 28,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $2.44 per share, with a total value of $68,320.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 3,944,120 shares of company stock valued at $9,735,001. 58.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. American International Group Inc. raised its position in Cerecor by 30.8% in the second quarter. American International Group Inc. now owns 17,647 shares of the company’s stock valued at $46,000 after purchasing an additional 4,157 shares during the last quarter. State Street Corp raised its position in Cerecor by 1.3% in the first quarter. State Street Corp now owns 397,928 shares of the company’s stock valued at $987,000 after purchasing an additional 5,283 shares during the last quarter. Invesco Ltd. raised its position in Cerecor by 15.2% in the first quarter. Invesco Ltd. now owns 59,979 shares of the company’s stock valued at $149,000 after purchasing an additional 7,909 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Cerecor by 22.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 67,450 shares of the company’s stock valued at $176,000 after purchasing an additional 12,406 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Cerecor by 23.1% in the first quarter. Nuveen Asset Management LLC now owns 70,908 shares of the company’s stock valued at $176,000 after purchasing an additional 13,321 shares during the last quarter. Hedge funds and other institutional investors own 65.20% of the company’s stock.
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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