Cerecor Inc (CERC) Gets a Buy Rating from H.C. Wainwright

By Jason Carr

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Cerecor Inc (CERCResearch Report) today and set a price target of $11. The company’s shares closed on Friday at $4.98.

Selvaraju wrote:

“We value Cerecor based on a discounted cash flow (DCF) approach that ascribes a total value of $530M to the company’s marketed product portfolio, neurology-focused assets and ultra-rare early-stage product candidate pipeline.”

According to TipRanks.com, Selvaraju is ranked 0 out of 5 stars with an average return of -3.0% and a 29.9% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, EyePoint Pharmaceuticals Inc, and Bausch Health Companies Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cerecor Inc with a $9.67 average price target, a 94.2% upside from current levels. In a report issued on May 13, Ladenburg also reiterated a Buy rating on the stock with a $8 price target.

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Based on Cerecor Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $7.45 million. In comparison, last year the company had a GAAP net loss of $3.88 million.

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CERC in relation to earlier this year.

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Cerecor, Inc. is a clinical stage biopharmaceutical company focuses in medical development. It involves in the discovery, manufacture and commercialization of prescription for neurological and psychiatric disorders. It products include CERC-301, CERC-501, CERC-611, and CERC-406.