Curis (CRIS) Cut to Sell at Zacks Investment Research

Curis (NASDAQ:CRIS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

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. “

A number of other brokerages have also issued reports on CRIS. ValuEngine lowered shares of Curis from a “hold” rating to a “sell” rating in a research note on Friday, September 15th. Guggenheim began coverage on shares of Curis in a research note on Monday, October 23rd. They set a “buy” rating and a $7.00 price target on the stock. Three analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $6.50.

Shares of Curis (NASDAQ CRIS) remained flat at $$0.68 during trading hours on Tuesday. 1,032,305 shares of the stock traded hands, compared to its average volume of 1,294,000. Curis has a 1-year low of $0.67 and a 1-year high of $3.22. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $113.08, a PE ratio of -1.74 and a beta of 1.63.

Curis (NASDAQ:CRIS) last announced its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). Curis had a negative net margin of 629.29% and a negative return on equity of 250.58%. The business had revenue of $2.44 million during the quarter, compared to analysts’ expectations of $2.19 million. During the same period in the previous year, the company posted ($0.21) earnings per share. Curis’s quarterly revenue was up 38.6% on a year-over-year basis. analysts anticipate that Curis will post -0.41 earnings per share for the current year.

In other news, CEO Ali Ph.D. Fattaey purchased 50,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were acquired at an average cost of $1.06 per share, for a total transaction of $53,000.00. Following the completion of the purchase, the chief executive officer now directly owns 115,890 shares in the company, valued at approximately $122,843.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.07% of the company’s stock.

Institutional investors have recently modified their holdings of the company. OxFORD Asset Management LLP acquired a new position in shares of Curis during the second quarter worth about $115,000. FNY Partners Fund LP increased its stake in shares of Curis by 350.0% during the third quarter. FNY Partners Fund LP now owns 67,500 shares of the biotechnology company’s stock worth $100,000 after acquiring an additional 52,500 shares during the period. Voya Investment Management LLC increased its stake in shares of Curis by 21.8% during the second quarter. Voya Investment Management LLC now owns 68,138 shares of the biotechnology company’s stock worth $129,000 after acquiring an additional 12,207 shares during the period. Alliancebernstein L.P. grew its position in Curis by 338.7% during the second quarter. Alliancebernstein L.P. now owns 83,800 shares of the biotechnology company’s stock worth $158,000 after buying an additional 64,700 shares during the period. Finally, State of Wisconsin Investment Board acquired a new position in Curis during the second quarter worth about $163,000. Institutional investors and hedge funds own 55.22% of the company’s stock.

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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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