Ladenburg Thalmann & Co. Sticks to Its Buy Rating for Cerecor Inc (CERC)

By Ryan Adsit

Ladenburg Thalmann & Co. analyst Michael Higgins reiterated a Buy rating on Cerecor Inc (CERCResearch Report) today and set a price target of $8. The company’s shares closed yesterday at $5.65.

Higgins commented:

“We reiterate our Buy rating and $8 PT. Full data set is consistent with interim data.”

According to TipRanks.com, Higgins ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.9% and a 32.0% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Rhythm Pharmaceuticals Inc, Armata 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 71.2% 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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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.