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

By Carrie Williams

In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Cerecor Inc (CERCResearch Report), with a price target of $11. The company’s shares closed yesterday at $5.65.

Selvaraju noted:

“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 and pipeline. This translates into a price objective of $11.00 per share, based on our projection of 47.3M shares outstanding as of end-1Q 2020.”

According to TipRanks.com, Selvaraju is a 4-star analyst with an average return of 4.4% and a 35.8% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Taro Pharmaceutical Industries Ltd., Biospecifics Technologies Corp, and EyePoint Pharmaceuticals 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.

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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 $6.01 million.

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.