Cerecor Inc (CERC) Gets a Buy Rating from Maxim Group

By Carrie Williams

In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Cerecor Inc (CERCResearch Report), with a price target of $10. The company’s shares opened today at $5.64.

McCarthy said:

“Cerecor reported positive Parkinson’s disease (PD)- related neurogenic orthostatic hypotension (nOH). Key takeaways from the data include demonstration of a rapid and sustained improvement in systolic blood pressure upon standing particularly in the highest dose group (20mg); >7mmHg with max improvement of 29.1mmHg.”

According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -18.5% and a 24.6% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, Aridis Pharmaceuticals Inc, and Achieve Life Sciences Inc.

Currently, the analyst consensus on Cerecor Inc is a Strong Buy with an average price target of $9.67, which is a 71.5% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $11 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 148.3K.

Based on the recent corporate insider activity of 41 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.