Cerecor (NASDAQ:CERC) Downgraded to Hold at ValuEngine

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

Other research analysts have also recently issued research reports about the stock. TheStreet cut shares of Virtusa from a b- rating to a c+ rating in a report on Wednesday, May 29th. Maxim Group assumed coverage on shares of Entera Bio in a report on Tuesday, July 2nd. They issued a buy rating and a $12.00 price objective for the company. HC Wainwright set a $28.00 price objective on shares of Denali Therapeutics and gave the company a buy rating in a report on Monday, July 15th. Finally, LADENBURG THALM/SH SH restated a buy rating and issued a $8.00 price objective on shares of Cerecor in a report on Tuesday, July 2nd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $9.67.

Shares of CERC stock opened at $4.53 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 0.62. The company has a 50 day simple moving average of $5.08. Cerecor has a fifty-two week low of $2.71 and a fifty-two week high of $7.65.

Cerecor (NASDAQ:CERC) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates 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%. As a group, research analysts predict that Cerecor will post -0.64 EPS for the current year.

In other news, Director Armistice Capital, Llc purchased 18,200 shares of the stock in a transaction on Thursday, May 30th. The stock was bought at an average price of $4.64 per share, for a total transaction of $84,448.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Armistice Capital Master Fund purchased 10,000 shares of the stock in a transaction on Friday, June 7th. The shares were purchased at an average price of $4.88 per share, with a total value of $48,800.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 225,219 shares of company stock valued at $1,077,864 in the last quarter. 64.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CERC. Tibra Equities Europe Ltd acquired a new position in Cerecor during the 1st quarter worth approximately $210,000. Geode Capital Management LLC lifted its position in shares of Cerecor by 50.7% during the 4th quarter. Geode Capital Management LLC now owns 94,990 shares of the company’s stock worth $306,000 after buying an additional 31,951 shares during the last quarter. Spark Investment Management LLC lifted its position in shares of Cerecor by 60.5% during the 1st quarter. Spark Investment Management LLC now owns 83,000 shares of the company’s stock worth $484,000 after buying an additional 31,290 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Cerecor during the 1st quarter worth approximately $109,000. Finally, Northern Trust Corp lifted its position in shares of Cerecor by 47.9% during the 4th quarter. Northern Trust Corp now owns 20,079 shares of the company’s stock worth $65,000 after buying an additional 6,500 shares during the last quarter. Institutional investors 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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