Cerecor Inc (CERC) Gets a Buy Rating from Ladenburg

By Jason Carr

In a report released today, Michael Higgins from Ladenburg reiterated a Buy rating on Cerecor Inc (CERCResearch Report), with a price target of $8. The company’s shares closed on Friday at $5.02.

Higgins commented:

“We expect CERC-800s’ development to be swift, following a 505(b)(2) path, as their active drugs have been approved as excipients, each has peer-reviewed, positive investigator-sponsored trial results and all three address ultra-rare conditions, receiving Orphan Drug designation in 1Q’19. For each, we expect just one a very small (n<10) Phase 3, leading to potential approvals in 2021 and 2022. This strategy succeeded in similar cases (Exhibit 2). CERC-801 (D-galactose) is in development for PGM1-CDG and was Cerecor’s first to start with data reported in April showing good tolerability, as expected. Additional PK data is expected this summer from the same trial. Cerecor also began in 2Q’19 to collect third-party clinical data from all three CERC-800s, which should form a major part of their NDA filings."

According to TipRanks.com, Higgins is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -4.6% and a 33.5% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Melinta Therapeutics Inc, and Eiger Biopharmaceuticals.

Currently, the analyst consensus on Cerecor Inc is a Strong Buy with an average price target of $9.67, a 92.6% upside from current levels. In a report issued on April 29, Maxim Group also maintained a Buy rating on the stock with a $10 price target.

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The company has a one-year high of $7.65 and a one-year low of $2.71. Currently, Cerecor Inc has an average volume of 134.3K.

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.