Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CEREGet Rating) have received an average recommendation of “Buy” from the seven research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $42.17.

A number of research firms recently commented on CERE. The Goldman Sachs Group started coverage on shares of Cerevel Therapeutics in a research report on Tuesday, February 15th. They set a “neutral” rating and a $27.00 target price for the company. Zacks Investment Research lowered Cerevel Therapeutics from a “buy” rating to a “hold” rating in a report on Monday.

Shares of NASDAQ CERE opened at $22.18 on Tuesday. Cerevel Therapeutics has a 1-year low of $12.01 and a 1-year high of $46.16. The business has a fifty day moving average price of $32.13 and a 200 day moving average price of $31.99. The stock has a market capitalization of $3.28 billion, a P/E ratio of -13.44 and a beta of 2.75.

Cerevel Therapeutics (NASDAQ:CEREGet Rating) last announced its earnings results on Tuesday, March 1st. The biotechnology company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.01. During the same quarter in the prior year, the company earned ($0.27) earnings per share. Analysts predict that Cerevel Therapeutics will post -1.81 EPS for the current year.

In related news, insider John Renger sold 45,000 shares of the firm’s stock in a transaction on Wednesday, April 13th. The stock was sold at an average price of $34.65, for a total value of $1,559,250.00. Following the completion of the transaction, the insider now owns 1,980 shares in the company, valued at approximately $68,607. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 125,000 shares of company stock valued at $4,059,250. Corporate insiders own 3.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Swiss National Bank boosted its holdings in Cerevel Therapeutics by 9.2% in the first quarter. Swiss National Bank now owns 104,400 shares of the biotechnology company’s stock valued at $3,655,000 after purchasing an additional 8,800 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Cerevel Therapeutics by 9.5% in the first quarter. Teacher Retirement System of Texas now owns 9,159 shares of the biotechnology company’s stock worth $321,000 after buying an additional 795 shares during the last quarter. New York State Common Retirement Fund grew its holdings in Cerevel Therapeutics by 6.8% during the first quarter. New York State Common Retirement Fund now owns 30,454 shares of the biotechnology company’s stock worth $1,066,000 after acquiring an additional 1,928 shares during the period. Victory Capital Management Inc. raised its position in Cerevel Therapeutics by 121.7% during the first quarter. Victory Capital Management Inc. now owns 17,484 shares of the biotechnology company’s stock valued at $512,000 after acquiring an additional 9,596 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cerevel Therapeutics by 30.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,134 shares of the biotechnology company’s stock valued at $250,000 after acquiring an additional 1,657 shares during the period.

About Cerevel Therapeutics (Get Rating)

Cerevel Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, engages in the development of various therapies for neuroscience diseases. 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 acute anxiety.

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Analyst Recommendations for Cerevel Therapeutics (NASDAQ:CERE)

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