Cerecor Inc (NASDAQ:CERC) Sees Large Increase in Short Interest

Cerecor Inc (NASDAQ:CERC) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 873,400 shares, a growth of 20.2% from the September 30th total of 726,700 shares. Based on an average trading volume of 61,800 shares, the short-interest ratio is currently 14.1 days. Currently, 2.6% of the shares of the stock are short sold.

Several brokerages have recently issued reports on CERC. HC Wainwright set a $11.00 price objective on Cerecor and gave the stock a “buy” rating in a report on Wednesday, August 21st. Maxim Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of Cerecor in a report on Tuesday, October 15th. Finally, ValuEngine raised Cerecor from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $9.67.

In other news, major shareholder Armistice Capital Master Fund acquired 41,764 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were acquired at an average cost of $3.22 per share, with a total value of $134,480.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Armistice Capital, Llc acquired 9,886 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were purchased at an average cost of $3.43 per share, for a total transaction of $33,908.98. The disclosure for this purchase can be found here. Insiders have bought a total of 4,472,866 shares of company stock worth $13,654,886 over the last ninety days. Insiders own 64.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Northern Trust Corp raised its holdings in Cerecor by 47.4% during the 2nd quarter. Northern Trust Corp now owns 55,971 shares of the company’s stock valued at $304,000 after buying an additional 17,999 shares during the period. Bank of New York Mellon Corp raised its holdings in Cerecor by 294.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 57,428 shares of the company’s stock valued at $312,000 after buying an additional 42,885 shares during the period. Charles Schwab Investment Management Inc. purchased a new stake in Cerecor during the 2nd quarter valued at $288,000. JPMorgan Chase & Co. raised its holdings in Cerecor by 612.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 72,670 shares of the company’s stock valued at $355,000 after buying an additional 62,473 shares during the period. Finally, Wells Fargo & Company MN purchased a new stake in Cerecor during the 2nd quarter valued at $853,000. Institutional investors own 55.15% of the company’s stock.

NASDAQ:CERC traded down $0.31 during midday trading on Thursday, hitting $3.02. 71,500 shares of the company traded hands, compared to its average volume of 111,542. The firm’s fifty day moving average is $3.30 and its 200-day moving average is $4.16. Cerecor has a 12-month low of $2.71 and a 12-month high of $7.65. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.71 and a current ratio of 0.74.

Cerecor Company Profile

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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