Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Receives Average Rating of “Hold” from Brokerages

Shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CEREGet Free Report) have been given a consensus recommendation of “Hold” by the eleven ratings firms that are currently covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $39.64.

Several equities analysts have recently issued reports on CERE shares. Cantor Fitzgerald lowered Cerevel Therapeutics from an “overweight” rating to a “neutral” rating and upped their target price for the company from $38.00 to $45.00 in a report on Thursday, December 7th. JPMorgan Chase & Co. upped their price objective on Cerevel Therapeutics from $25.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, December 28th. Jefferies Financial Group reiterated a “hold” rating and issued a $45.00 price objective (up previously from $40.00) on shares of Cerevel Therapeutics in a research note on Friday, December 22nd. TD Cowen reiterated a “market perform” rating and issued a $45.00 price objective on shares of Cerevel Therapeutics in a research note on Friday, December 8th. Finally, Mizuho upped their price objective on Cerevel Therapeutics from $25.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, February 16th.

Get Our Latest Report on Cerevel Therapeutics

Cerevel Therapeutics Stock Up 0.1 %

CERE stock opened at $42.24 on Friday. The stock’s 50 day simple moving average is $41.95 and its 200 day simple moving average is $32.69. Cerevel Therapeutics has a fifty-two week low of $19.59 and a fifty-two week high of $43.59. The company has a debt-to-equity ratio of 0.50, a quick ratio of 10.92 and a current ratio of 10.92. The company has a market cap of $7.67 billion, a P/E ratio of -16.90 and a beta of 1.49.

Insider Buying and Selling at Cerevel Therapeutics

In related news, insider Mark Bodenrader sold 7,889 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $41.42, for a total transaction of $326,762.38. Following the sale, the insider now directly owns 17,724 shares of the company’s stock, valued at approximately $734,128.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Kenneth Dipietro sold 8,000 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $41.45, for a total value of $331,600.00. Following the completion of the transaction, the insider now owns 24,663 shares in the company, valued at approximately $1,022,281.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Bodenrader sold 7,889 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $41.42, for a total transaction of $326,762.38. Following the transaction, the insider now owns 17,724 shares of the company’s stock, valued at $734,128.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,364 shares of company stock valued at $5,957,357. Corporate insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On Cerevel Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of Cerevel Therapeutics in the fourth quarter worth approximately $71,000. Royal Bank of Canada lifted its position in shares of Cerevel Therapeutics by 19.4% during the third quarter. Royal Bank of Canada now owns 2,959 shares of the biotechnology company’s stock worth $83,000 after purchasing an additional 480 shares in the last quarter. KBC Group NV acquired a new position in shares of Cerevel Therapeutics during the fourth quarter worth $88,000. Centaurus Financial Inc. acquired a new position in shares of Cerevel Therapeutics during the first quarter worth $105,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of Cerevel Therapeutics by 59.4% during the second quarter. Tower Research Capital LLC TRC now owns 4,262 shares of the biotechnology company’s stock worth $135,000 after purchasing an additional 1,588 shares in the last quarter. 87.73% of the stock is currently owned by hedge funds and other institutional investors.

Cerevel Therapeutics Company Profile

(Get Free Report

Cerevel Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, develops various therapies for neuroscience diseases in the United States. It is developing Emraclidine, a positive allosteric modulator (PAM) that is in phase 1b clinical trials for the treatment of schizophrenia; and Darigabat, a PAM, which is in Phase 2 proof-of-concept trial in patients with drug-resistant focal onset seizures in epilepsy or focal epilepsy, as well as in phase 1 trial to treat panic symptoms model.

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