Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Given Consensus Recommendation of “Hold” by Analysts

Shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) have received an average rating of “Hold” from the ten analysts that are covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $41.40.

Separately, Mizuho increased their price target on Cerevel Therapeutics from $25.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, February 16th.

Insider Buying and Selling at Cerevel Therapeutics

In other news, Director N Anthony Coles sold 50,000 shares of Cerevel Therapeutics stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $41.01, for a total value of $2,050,500.00. Following the completion of the transaction, the director now directly owns 15,638 shares of the company’s stock, valued at approximately $641,314.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director N Anthony Coles sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $41.01, for a total transaction of $2,050,500.00. Following the completion of the transaction, the director now directly owns 15,638 shares in the company, valued at $641,314.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Renger sold 2,161 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $41.54, for a total value of $89,767.94. Following the completion of the sale, the insider now owns 6,370 shares in the company, valued at $264,609.80. The disclosure for this sale can be found here. Insiders sold a total of 104,667 shares of company stock worth $4,302,367 over the last 90 days. Insiders own 5.10% of the company’s stock.

Institutional Trading of Cerevel Therapeutics

A number of institutional investors have recently made changes to their positions in CERE. Avoro Capital Advisors LLC boosted its stake in Cerevel Therapeutics by 690.7% during the fourth quarter. Avoro Capital Advisors LLC now owns 7,555,555 shares of the biotechnology company’s stock valued at $320,356,000 after buying an additional 6,600,000 shares in the last quarter. Bain Capital Investors LLC grew its holdings in shares of Cerevel Therapeutics by 9.1% in the 4th quarter. Bain Capital Investors LLC now owns 65,679,781 shares of the biotechnology company’s stock worth $2,784,823,000 after acquiring an additional 5,480,052 shares during the last quarter. Alpine Associates Management Inc. purchased a new stake in shares of Cerevel Therapeutics during the fourth quarter valued at $69,710,000. Vanguard Group Inc. increased its stake in Cerevel Therapeutics by 15.8% in the 4th quarter. Vanguard Group Inc. now owns 7,374,970 shares of the biotechnology company’s stock worth $312,699,000 after purchasing an additional 1,003,594 shares in the last quarter. Finally, Perceptive Advisors LLC raised its holdings in Cerevel Therapeutics by 8.7% during the 4th quarter. Perceptive Advisors LLC now owns 10,965,193 shares of the biotechnology company’s stock worth $464,924,000 after buying an additional 876,808 shares during the period. 87.73% of the stock is owned by institutional investors and hedge funds.

Cerevel Therapeutics Price Performance

CERE opened at $42.55 on Friday. Cerevel Therapeutics has a 52-week low of $19.59 and a 52-week high of $43.59. The company has a 50 day moving average of $41.96 and a two-hundred day moving average of $37.52. The company has a market cap of $7.73 billion, a P/E ratio of -17.02 and a beta of 1.46. The company has a quick ratio of 10.92, a current ratio of 10.92 and a debt-to-equity ratio of 0.50.

About Cerevel Therapeutics

Cerevel Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, develops various therapies for neuroscience diseases in the United States. 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 or focal epilepsy, as well as in phase 1 trial to treat panic symptoms model.