Cerecor (NASDAQ:CERC) Upgraded to Buy at ValuEngine

ValuEngine upgraded shares of Cerecor (NASDAQ:CERC) from a hold rating to a buy rating in a report released on Thursday, ValuEngine reports.

Several other equities analysts have also recently commented on CERC. LADENBURG THALM/SH SH reissued a buy rating and issued a $8.00 price target on shares of Cerecor in a research report on Tuesday, July 2nd. Maxim Group reissued a buy rating and issued a $10.00 price target on shares of Cerecor in a research report on Tuesday, July 2nd. HC Wainwright set a $11.00 price target on shares of Cerecor and gave the company a buy rating in a research report on Monday, July 15th. Finally, TheStreet cut shares of Cerecor from a c- rating to a d+ rating in a research report on Wednesday, May 29th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $9.67.

Shares of NASDAQ:CERC traded down $0.11 during mid-day trading on Thursday, reaching $3.61. 137,814 shares of the company were exchanged, compared to its average volume of 66,180. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.91 and a current ratio of 0.95. The company has a 50-day moving average price of $4.91. Cerecor has a 1 year low of $2.71 and a 1 year high of $7.65.

Cerecor (NASDAQ:CERC) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.13) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.03. The firm had revenue of $5.41 million during the quarter, compared to analysts’ expectations of $4.85 million. Cerecor had a negative net margin of 226.50% and a negative return on equity of 120.67%. Research analysts forecast that Cerecor will post -0.64 earnings per share for the current fiscal year.

In other news, Director Armistice Capital, Llc acquired 12,587 shares of Cerecor stock in a transaction dated Monday, May 13th. The shares were acquired at an average cost of $4.85 per share, for a total transaction of $61,046.95. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Armistice Capital Master Fund acquired 51,000 shares of Cerecor stock in a transaction dated Friday, May 31st. The stock was purchased at an average price of $4.71 per share, for a total transaction of $240,210.00. The disclosure for this purchase can be found here. Insiders acquired a total of 225,219 shares of company stock valued at $1,077,864 in the last three months. 64.30% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Tibra Equities Europe Ltd acquired a new stake in shares of Cerecor in the 1st quarter valued at $210,000. BlackRock Inc. raised its holdings in shares of Cerecor by 18.5% in the 4th quarter. BlackRock Inc. now owns 33,960 shares of the company’s stock valued at $109,000 after purchasing an additional 5,293 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Cerecor in the 1st quarter valued at $109,000. Spark Investment Management LLC raised its holdings in shares of Cerecor by 60.5% in the 1st quarter. Spark Investment Management LLC now owns 83,000 shares of the company’s stock valued at $484,000 after purchasing an additional 31,290 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Cerecor by 50.7% in the 4th quarter. Geode Capital Management LLC now owns 94,990 shares of the company’s stock valued at $306,000 after purchasing an additional 31,951 shares in the last quarter. Institutional investors and hedge funds own 53.90% of the company’s stock.

About Cerecor

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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