Cerecor (NASDAQ:CERC) Shares Up 9.6%

Shares of Cerecor Inc (NASDAQ:CERC) shot up 9.6% on Monday . The company traded as high as $3.69 and last traded at $3.42, 114,000 shares changed hands during mid-day trading. A decline of 5% from the average session volume of 120,046 shares. The stock had previously closed at $3.12.

A number of research firms have weighed in on CERC. ValuEngine raised Cerecor from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Maxim Group set a $10.00 target price on Cerecor and gave the company a “buy” rating in a report on Friday, August 9th. HC Wainwright set a $11.00 target price on Cerecor and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, LADENBURG THALM/SH SH reissued a “buy” rating and issued a $8.00 target price on shares of Cerecor in a report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $9.67.

The company has a debt-to-equity ratio of 0.81, a current ratio of 0.74 and a quick ratio of 0.71. The business has a 50-day simple moving average of $3.26 and a 200 day simple moving average of $4.52.

Cerecor (NASDAQ:CERC) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $4.45 million during the quarter, compared to analysts’ expectations of $5.28 million. Cerecor had a negative return on equity of 143.30% and a negative net margin of 231.68%. As a group, sell-side analysts expect that Cerecor Inc will post -0.57 EPS for the current year.

In related news, major shareholder Armistice Capital Master Fund purchased 100,000 shares of Cerecor stock in a transaction on Wednesday, August 14th. The stock was acquired at an average price of $3.33 per share, for a total transaction of $333,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Armistice Capital, Llc purchased 9,886 shares of Cerecor stock in a transaction on Friday, August 16th. The stock was bought at an average price of $3.43 per share, with a total value of $33,908.98. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 4,643,678 shares of company stock valued at $14,224,147. Company insiders own 64.30% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CERC. Charles Schwab Investment Management Inc. purchased a new stake in Cerecor in the second quarter worth about $288,000. Northern Trust Corp grew its position in shares of Cerecor by 47.4% during the second quarter. Northern Trust Corp now owns 55,971 shares of the company’s stock worth $304,000 after purchasing an additional 17,999 shares in the last quarter. Bank of New York Mellon Corp grew its position 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 worth $312,000 after purchasing an additional 42,885 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Cerecor by 612.7% during the second quarter. JPMorgan Chase & Co. now owns 72,670 shares of the company’s stock worth $355,000 after purchasing an additional 62,473 shares in the last quarter. Finally, Wells Fargo & Company MN purchased a new stake in shares of Cerecor during the second quarter worth about $853,000. Institutional investors and hedge funds own 55.75% of the company’s stock.

Cerecor Company Profile (NASDAQ:CERC)

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.

Further Reading: Stocks Increasing Dividends

Receive News & Ratings for Cerecor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerecor and related companies with MarketBeat.com's FREE daily email newsletter.