The seven research firms currently monitoring Cerevel Therapeutics Holdings, Inc. (NASDAQ: CERE) have given the stock an average rating of “Moderate Buy,” which indicates that they anticipate acquiring the company’s shares in the near future, as reported by Bloomberg.com. Seven different research analysts have assigned the firm a buy rating, while only two experts have assigned a hold rating to the stock. The brokerage firms that offered ratings for the company in the previous year have concluded that the stock is expected to reach an average price objective of $41.29 within the next twelve months. This objective was derived from the stock’s price performance over the course of the previous year. Various analysts have contributed their thoughts on CERE in a variety of reports. Morgan Stanley published a research report on Cerevel Therapeutics on August 22, and the company’s focus was on the company’s potential. Following the completion of the study, a rating of “overweight” was given to the company, and a new price target of $50.00 was established. In a research note published on May 24, the Goldman Sachs Group dropped its target price for Cerevel Therapeutics from $28.00 to $20.00 and assigned the business a “neutral” rating.
In addition, the firm maintained its “neutral” rating for the company. In a research report published on Tuesday, August 23, Mizuho increased their target price for Cerevel Therapeutics from $27.00 to $32.00 and assigned the stock a “neutral” rating. This comes after the firm increased its target price for Cerevel Therapeutics from $27.00 to $30.00 earlier in the week. When trading began on Monday, one share of CERE was selling at $31.08 per unit. The stock’s 50-day simple moving average and 200-day simple moving average are each currently lying at $30.28 and $29.61, respectively, as of right now. The company’s market capitalization is $4.62 billion, and the stock has a price-to-earnings ratio of -16.36, while its beta value is 1.96. During a single year, the share price of Cerevel Therapeutics ranged from a 52-week low of $19.86 to a 52-week high of $46.16. On August 1, a Monday, the most recent quarterly earnings report for Cerevel Therapeutics (NASDAQ: CERE) was made public. This report covered the company’s most recent financial quarter. The earnings per share for the biotechnology business came in at $0.62 for the quarter, which was $0.14 less than the consensus forecast of $0.48 among experts. In the same period the previous year, the company reported earnings of $0.42 per share for each shareholder.
The projections of equity analysts suggest that Cerevel Therapeutics will finish the current fiscal year with profits per share that average -2.34 dollars, on the negative side. On August 22, 9,605 shares of Cerevel Therapeutics stock were sold by Abraham Ceesay, the company’s president. This information comes from some other recent news on the business. Following the sale of the stock at an average price of $32.50 per share, the transaction resulted in a total value of $312,162.50 being exchanged. The Securities and Exchange Commission was given legal documentation pertaining to the transaction, which can be viewed at the link below. The documentation was sent to the SEC. In related news connected to this topic, on August 16, Director Perceptive Advisors Llc purchased 1,425,000 shares of the company’s stock. This was reported in another piece of recent news. To purchase the stock, which is currently valued at a total of $49,875,000 on the market, the buyer paid an average price of $35 per share. As a direct consequence of the transaction, the director now directly controls 6,511,727 shares of the company. The total value of these shares is $227,910,445, therefore this represents a significant increase in the director’s wealth. If you follow the link provided in this citation, you will be taken to a document presented to the SEC.
This document contains information regarding the transaction. Additionally, on August 22, 9,605 shares of the company’s owners were sold by President Abraham Ceesay. The sale of the shares brought in a total of $312,162.50, which is equivalent to an average price of $32.50 per share, bringing the grand total to the same amount. Simply clicking on this link will take you to further information about the disclaimer associated with this sale. Insiders of the company have recently completed transactions that resulted in the selling of 114,605 shares of stock with a total value of $4,039,663. Corporate insiders own 4.30 percent of the total shares outstanding in the company. As a result of recent happenings, institutional investors have been revising their stock holdings and adding new positions to their portfolios. From the beginning of the second quarter to the end of the quarter, Nisa Investment Advisors LLC was able to grow their proportion of shares of Cerevel Therapeutics to 46.8 percent, bringing their total percentage to 46.8 percent. Nisa Investment Advisors LLC has increased its stake in the biotechnology business by purchasing an additional 440 shares, bringing the total number of shares it owns in the company to 440. Each share is approximately $36,000 in value, bringing the total number of shares Nisa Investment Advisors LLC owns in the business to 440.
During the first three months of the year, Centaurus Financial Inc. made a new investment by purchasing a portion of Cerevel Therapeutics’ outstanding shares. It was estimated that this new stake was worth approximately $105,000. During the second quarter, Amundi completed the acquisition of new investment in Cerevel Therapeutics with an approximate value of $190,000. The Zurich Kantonalbank had a successful start to the year in the first three months. An increase of 30.3% was made at the beginning of this year to the equity holdings of Cerevel Therapeutics held by Zurich Cantonalbank. Bank Nationale der Schweiz Zurich Cantonalbank now has 7,134 shares of the company held by the biotechnology business, following the purchase of an additional 1,657 shares during the most recent fiscal quarter. The value of these shares on the market as of right now is $250,000. And last, during the final three months of 2018, Victory Capital Management Inc. purchased a new interest in Cerevel Therapeutics shares with a market value of roughly $256,000. This brought the company’s total investment in the company to around $256,000.
Cerevel Therapeutics Holdings, Inc. is a biopharmaceutical business currently in the clinical stage and is working on creating various medications for treating neurological disorders. Phase 1b clinical studies are currently being carried out in order to evaluate whether or not emraclidine, a positive allosteric modulator (PAM) that is currently in the process of being developed, is successful in treating schizophrenia. A clinical trial for the treatment of acute anxiety as well as drug-resistant focal onset seizures in epilepsy is now being conducted using a different PAM called darigabat. Both of these clinical tests are currently in the first phase of their respective phases.