Insider Buying: Cerecor Inc (CERC) Insider Acquires 6,000 Shares of Stock

Cerecor Inc (NASDAQ:CERC) insider Simon Pedder acquired 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average cost of $5.06 per share, with a total value of $30,360.00. Following the purchase, the insider now directly owns 6,000 shares of the company’s stock, valued at approximately $30,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of CERC traded up $0.11 during trading hours on Friday, hitting $5.37. The company had a trading volume of 50,968 shares, compared to its average volume of 115,385. The company has a current ratio of 0.95, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. Cerecor Inc has a 52-week low of $2.71 and a 52-week high of $7.65.

Cerecor (NASDAQ:CERC) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.03. The firm had revenue of $5.41 million for the quarter, compared to the consensus estimate of $4.85 million. Cerecor had a negative return on equity of 120.67% and a negative net margin of 226.50%. On average, equities analysts forecast that Cerecor Inc will post -0.72 earnings per share for the current fiscal year.



CERC has been the topic of a number of research reports. HC Wainwright initiated coverage on Cerecor in a research report on Monday, April 1st. They set a “buy” rating and a $11.00 price target on the stock. Maxim Group initiated coverage on Cerecor in a research report on Tuesday, April 9th. They set a “buy” rating and a $10.00 price target on the stock. BidaskClub upgraded Cerecor from a “buy” rating to a “strong-buy” rating in a report on Friday, March 1st. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $9.00 price objective on shares of Cerecor in a report on Thursday, January 17th. Finally, TheStreet upgraded Cerecor from a “d” rating to a “c-” rating in a report on Wednesday, January 30th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $9.67.

Several hedge funds and other institutional investors have recently bought and sold shares of CERC. JPMorgan Chase & Co. bought a new stake in shares of Cerecor in the first quarter worth about $60,000. Northern Trust Corp grew its stake in shares of Cerecor by 47.9% in the fourth quarter. Northern Trust Corp now owns 20,079 shares of the company’s stock worth $65,000 after purchasing an additional 6,500 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Cerecor in the first quarter worth about $77,000. Citigroup Inc. bought a new stake in shares of Cerecor in the first quarter worth about $107,000. Finally, BlackRock Inc. grew its stake in shares of Cerecor by 18.5% in the fourth quarter. BlackRock Inc. now owns 33,960 shares of the company’s stock worth $109,000 after purchasing an additional 5,293 shares during the last quarter. 50.28% of the stock is currently owned by institutional investors.

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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.

Further Reading: Federal Reserve

Insider Buying and Selling by Quarter for Cerecor (NASDAQ:CERC)

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