Analysts Set Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) PT at $41.40

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) has been assigned an average recommendation of “Hold” from the nine brokerages that are covering the firm, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $42.67.

Separately, Mizuho increased their price objective on shares of Cerevel Therapeutics from $25.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, February 16th.

Insider Buying and Selling

In other news, insider John Renger sold 2,161 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $41.54, for a total value of $89,767.94. Following the transaction, the insider now owns 6,370 shares of the company’s stock, valued at approximately $264,609.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director N Anthony Coles sold 2,506 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $41.54, for a total value of $104,099.24. Following the completion of the transaction, the director now owns 15,638 shares of the company’s stock, valued at approximately $649,602.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Renger sold 2,161 shares of Cerevel Therapeutics stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $41.54, for a total value of $89,767.94. Following the transaction, the insider now owns 6,370 shares in the company, valued at approximately $264,609.80. The disclosure for this sale can be found here. Insiders sold a total of 104,667 shares of company stock worth $4,302,367 over the last three months. 5.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of Cerevel Therapeutics by 1.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 263,690 shares of the biotechnology company’s stock valued at $5,756,000 after purchasing an additional 3,590 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Cerevel Therapeutics by 19.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,079 shares of the biotechnology company’s stock worth $264,000 after acquiring an additional 1,925 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Cerevel Therapeutics by 82.9% in the third quarter. TD Asset Management Inc now owns 372,146 shares of the biotechnology company’s stock valued at $8,124,000 after purchasing an additional 168,697 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Cerevel Therapeutics by 4.8% in the third quarter. Teacher Retirement System of Texas now owns 17,818 shares of the biotechnology company’s stock worth $389,000 after purchasing an additional 818 shares in the last quarter. Finally, Barclays PLC grew its position in Cerevel Therapeutics by 11.1% in the third quarter. Barclays PLC now owns 145,910 shares of the biotechnology company’s stock valued at $3,185,000 after purchasing an additional 14,568 shares in the last quarter. Institutional investors and hedge funds own 87.73% of the company’s stock.

Cerevel Therapeutics Price Performance

Shares of CERE stock opened at $42.52 on Friday. The company has a market capitalization of $7.72 billion, a P/E ratio of -17.01 and a beta of 1.46. The company has a current ratio of 10.92, a quick ratio of 10.92 and a debt-to-equity ratio of 0.50. Cerevel Therapeutics has a 12 month low of $19.59 and a 12 month high of $43.59. The stock has a 50 day moving average of $41.99 and a two-hundred day moving average of $37.87.

About Cerevel Therapeutics

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 or focal epilepsy, as well as in phase 1 trial to treat panic symptoms model.