Cerecor (NASDAQ:CERC) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Cerecor (NASDAQ:CERC) in a report released on Monday morning, BenzingaRatingsTable reports. HC Wainwright currently has a $12.00 price target on the stock, up from their previous price target of $11.00.

Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Cerecor from a buy rating to a hold rating in a research note on Thursday, November 28th. Maxim Group reaffirmed a buy rating and set a $10.00 price objective on shares of Cerecor in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $10.00.

Cerecor stock opened at $3.67 on Monday. The company’s 50-day moving average is $3.35 and its 200-day moving average is $3.98. Cerecor has a fifty-two week low of $2.71 and a fifty-two week high of $7.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.71 and a current ratio of 0.73.

Cerecor (NASDAQ:CERC) last issued its earnings results on Thursday, November 14th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.06. Cerecor had a negative net margin of 113.66% and a negative return on equity of 121.32%. The company had revenue of $5.61 million for the quarter, compared to analysts’ expectations of $5.15 million. As a group, research analysts predict that Cerecor will post -0.5 EPS for the current fiscal year.

In other news, major shareholder Armistice Capital Master Fund purchased 2,200,000 shares of Cerecor stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $3.05 per share, for a total transaction of $6,710,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Armistice Capital, Llc purchased 1,200,000 shares of Cerecor stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average price of $3.13 per share, with a total value of $3,756,000.00. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 4,400,000 shares of company stock worth $13,416,000. 64.30% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Millennium Management LLC acquired a new position in shares of Cerecor in the third quarter valued at about $305,000. State Street Corp increased its holdings in Cerecor by 20.6% in the 3rd quarter. State Street Corp now owns 342,223 shares of the company’s stock valued at $1,126,000 after buying an additional 58,538 shares during the period. Vanguard Group Inc. increased its holdings in Cerecor by 56.5% in the 2nd quarter. Vanguard Group Inc. now owns 678,000 shares of the company’s stock valued at $3,689,000 after buying an additional 244,657 shares during the period. BlackRock Inc. raised its position in shares of Cerecor by 4,046.6% in the 2nd quarter. BlackRock Inc. now owns 1,205,533 shares of the company’s stock valued at $6,559,000 after buying an additional 1,176,460 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Cerecor by 47.4% in 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 in the last quarter. 60.87% of the stock is currently owned by hedge funds and other institutional investors.

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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