Cerecor Inc (NASDAQ:CERC) Chairman Acquires $20,067.32 in Stock

Cerecor Inc (NASDAQ:CERC) Chairman Simon Pedder purchased 6,734 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average price of $2.98 per share, with a total value of $20,067.32. Following the completion of the acquisition, the chairman now owns 262,734 shares in the company, valued at approximately $782,947.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of CERC traded down $0.17 during mid-day trading on Friday, reaching $2.93. 96,636 shares of the company’s stock traded hands, compared to its average volume of 73,573. The business’s 50-day moving average price is $3.63 and its 200-day moving average price is $4.94. 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 Inc has a 12 month low of $2.71 and a 12 month high of $7.65.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in shares of Cerecor by 47.9% during the fourth quarter. Northern Trust Corp now owns 20,079 shares of the company’s stock valued at $65,000 after buying an additional 6,500 shares during the last quarter. Charles Schwab Investment Management Inc. bought a new stake in shares of Cerecor during the second quarter valued at approximately $288,000. Geode Capital Management LLC raised its holdings in shares of Cerecor by 50.7% during the fourth quarter. Geode Capital Management LLC now owns 94,990 shares of the company’s stock valued at $306,000 after buying an additional 31,951 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Cerecor by 294.9% during the second quarter. Bank of New York Mellon Corp now owns 57,428 shares of the company’s stock valued at $312,000 after acquiring an additional 42,885 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Cerecor by 612.7% during the second quarter. JPMorgan Chase & Co. now owns 72,670 shares of the company’s stock valued at $355,000 after acquiring an additional 62,473 shares during the period. 57.92% of the stock is currently owned by institutional investors.

CERC has been the subject of a number of research reports. HC Wainwright set a $11.00 price target on Cerecor and gave the stock a “buy” rating in a research note on Wednesday, August 21st. TheStreet cut Cerecor from a “c-” rating to a “d+” rating in a report on Wednesday, May 29th. ValuEngine raised Cerecor from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Maxim Group set a $10.00 price target on Cerecor and gave the company a “buy” rating in a report on Friday, August 9th. Finally, LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $8.00 price target on shares of Cerecor in a report on Tuesday, July 2nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $9.67.

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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