Maxim Group Keeps Their Buy Rating on Cerecor Inc (CERC)

By Ryan Adsit

In a report released today, Jason McCarthy from Maxim Group maintained a Buy rating on Cerecor Inc (CERCResearch Report), with a price target of $10. The company’s shares closed yesterday at $4.82.

McCarthy wrote:

“Cerecor reported 1Q19 with $5.4M in revenue from the pediatric vitamins/ supplements/pharmaceuticals franchise and remains on track to generate over $20M in 2020. The company ended the period with $16.1M in cash on the balance sheet.”

According to TipRanks.com, McCarthy ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -10.9% and a 28.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical Industries Limited, SELLAS Life Sciences Group Inc, and ContraVir Pharmaceuticals Inc.

Cerecor Inc has an analyst consensus of Moderate Buy, with a price target consensus of $10.50, which is an 117.8% upside from current levels. In a report issued on April 29, 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 131.6K.

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.