Cantor Fitzgerald Comments on Cerevel Therapeutics Holdings, Inc.’s FY2024 Earnings (NASDAQ:CERE)

Cerevel Therapeutics Holdings, Inc. (NASDAQ:CEREGet Rating) – Research analysts at Cantor Fitzgerald issued their FY2024 earnings per share estimates for shares of Cerevel Therapeutics in a research report issued to clients and investors on Monday, November 14th. Cantor Fitzgerald analyst C. Duncan expects that the biotechnology company will post earnings per share of ($3.04) for the year. Cantor Fitzgerald has a “Overweight” rating and a $41.00 price objective on the stock. The consensus estimate for Cerevel Therapeutics’ current full-year earnings is ($2.37) per share. Cantor Fitzgerald also issued estimates for Cerevel Therapeutics’ FY2025 earnings at ($3.61) EPS and FY2026 earnings at ($1.91) EPS.

Other analysts have also recently issued reports about the company. Mizuho reduced their price target on Cerevel Therapeutics from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, November 10th. Evercore ISI initiated coverage on Cerevel Therapeutics in a report on Monday, September 12th. They issued an “outperform” rating for the company. Loop Capital initiated coverage on Cerevel Therapeutics in a report on Tuesday, November 1st. They issued a “buy” rating and a $40.00 price target for the company. Wells Fargo & Company initiated coverage on Cerevel Therapeutics in a report on Monday, September 26th. They issued an “overweight” rating and a $38.00 price target for the company. Finally, Morgan Stanley raised their price target on Cerevel Therapeutics from $39.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, August 22nd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Cerevel Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $40.22.

Cerevel Therapeutics Stock Down 0.1 %

CERE opened at $28.39 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 16.64 and a quick ratio of 16.64. The business has a 50 day simple moving average of $28.03 and a 200-day simple moving average of $28.16. The stock has a market capitalization of $4.22 billion, a P/E ratio of -13.33 and a beta of 1.63. Cerevel Therapeutics has a 12 month low of $19.86 and a 12 month high of $41.46.

Institutional Investors Weigh In On Cerevel Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in CERE. Perceptive Advisors LLC grew its position in shares of Cerevel Therapeutics by 28.0% in the third quarter. Perceptive Advisors LLC now owns 6,511,727 shares of the biotechnology company’s stock valued at $184,021,000 after purchasing an additional 1,425,000 shares during the period. Point72 Asset Management L.P. grew its position in shares of Cerevel Therapeutics by 436.0% in the third quarter. Point72 Asset Management L.P. now owns 1,084,240 shares of the biotechnology company’s stock valued at $30,641,000 after purchasing an additional 881,940 shares during the period. Vanguard Group Inc. grew its position in shares of Cerevel Therapeutics by 17.2% in the third quarter. Vanguard Group Inc. now owns 5,874,001 shares of the biotechnology company’s stock valued at $165,999,000 after purchasing an additional 861,581 shares during the period. Finepoint Capital LP purchased a new stake in shares of Cerevel Therapeutics in the third quarter valued at $15,173,000. Finally, State Street Corp grew its position in shares of Cerevel Therapeutics by 12.6% in the third quarter. State Street Corp now owns 2,719,272 shares of the biotechnology company’s stock valued at $76,847,000 after purchasing an additional 304,798 shares during the period.

Insider Buying and Selling

In other Cerevel Therapeutics news, Director Deval L. Patrick sold 47,705 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $30.78, for a total transaction of $1,468,359.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cerevel Therapeutics news, President Abraham Ceesay sold 9,605 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $32.50, for a total transaction of $312,162.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Deval L. Patrick sold 47,705 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $30.78, for a total value of $1,468,359.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,520 shares of company stock valued at $3,154,847. 4.30% of the stock is owned by insiders.

Cerevel Therapeutics Company Profile

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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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