Cerecor Inc (CERC) Received its Third Buy in a Row

By Jason Carr

After H.C. Wainwright and Maxim Group gave Cerecor Inc (NASDAQ: CERC) a Buy rating last month, the company received another Buy, this time from Ladenburg Thalmann & Co. Analyst Michael Higgins maintained a Buy rating on Cerecor Inc today and set a price target of $8. The company’s shares closed last Monday at $3.87.

Higgins said:

“We continue to look for Cerecor to start enrolling healthy adult volunteers into CERC-802s Phase 1 PK study this quarter, with results in Q4.”

According to TipRanks.com, Higgins has 0 stars on 0-5 star ranking scale with an average return of -11.6% and a 30.0% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Armata Pharmaceuticals Inc, Rhythm Pharmaceuticals Inc, and Achieve Life Sciences Inc.

Cerecor Inc has an analyst consensus of Strong Buy, with a price target consensus of $9.67, which is a 140.5% upside from current levels. In a report issued on August 9, Maxim Group also maintained a Buy rating on the stock with a $10 price target.

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Based on Cerecor Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $6.22 million. In comparison, last year the company had a GAAP net loss of $6.01 million.

Based on the recent corporate insider activity of 39 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.