Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Expected to Earn Q2 2022 Earnings of ($0.47) Per Share

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CEREGet Rating) – Investment analysts at Jefferies Financial Group lowered their Q2 2022 EPS estimates for Cerevel Therapeutics in a research note issued on Tuesday, May 10th. Jefferies Financial Group analyst M. Yee now forecasts that the biotechnology company will post earnings per share of ($0.47) for the quarter, down from their prior forecast of ($0.41). Jefferies Financial Group also issued estimates for Cerevel Therapeutics’ Q3 2022 earnings at ($0.47) EPS, Q4 2022 earnings at ($0.48) EPS, FY2022 earnings at ($1.88) EPS, Q1 2023 earnings at ($0.50) EPS, Q2 2023 earnings at ($0.52) EPS, Q3 2023 earnings at ($0.54) EPS, Q4 2023 earnings at ($0.52) EPS and FY2023 earnings at ($2.08) EPS.

Cerevel Therapeutics (NASDAQ:CEREGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The biotechnology company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.03). During the same quarter last year, the business earned ($0.40) earnings per share.

CERE has been the subject of a number of other research reports. Zacks Investment Research cut Cerevel Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group began coverage on shares of Cerevel Therapeutics in a research note on Tuesday, February 15th. They issued a “neutral” rating and a $27.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $41.14.

Shares of CERE opened at $21.76 on Friday. The stock has a 50 day moving average of $31.80 and a 200-day moving average of $31.85. Cerevel Therapeutics has a 52 week low of $12.01 and a 52 week high of $46.16.

In other Cerevel Therapeutics news, insider John Renger sold 45,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $34.65, for a total transaction of $1,559,250.00. Following the completion of the sale, the insider now directly owns 1,980 shares in the company, valued at $68,607. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 100,000 shares of company stock worth $3,309,250. 3.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in CERE. Rhumbline Advisers lifted its stake in Cerevel Therapeutics by 11.7% in the first quarter. Rhumbline Advisers now owns 41,045 shares of the biotechnology company’s stock worth $1,437,000 after acquiring an additional 4,312 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Cerevel Therapeutics by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 25,158 shares of the biotechnology company’s stock worth $881,000 after purchasing an additional 9,285 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of Cerevel Therapeutics by 3.6% in the first quarter. HighTower Advisors LLC now owns 76,168 shares of the biotechnology company’s stock valued at $2,689,000 after purchasing an additional 2,680 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of Cerevel Therapeutics in the first quarter valued at approximately $359,000. Finally, Swiss National Bank increased its stake in Cerevel Therapeutics by 9.2% during the first quarter. Swiss National Bank now owns 104,400 shares of the biotechnology company’s stock worth $3,655,000 after acquiring an additional 8,800 shares during the last quarter.

Cerevel Therapeutics Company Profile (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.

Further Reading

Earnings History and Estimates for Cerevel Therapeutics (NASDAQ:CERE)

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