Mizuho Cuts Cerevel Therapeutics (NASDAQ:CERE) Price Target to $27.00

Cerevel Therapeutics (NASDAQ:CEREGet Rating) had its price target reduced by Mizuho from $30.00 to $27.00 in a research report report published on Wednesday, Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

Separately, The Goldman Sachs Group lowered their price target on Cerevel Therapeutics from $28.00 to $20.00 and set a neutral rating for the company in a report on Tuesday, May 24th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $39.00.

Cerevel Therapeutics Trading Up 13.5 %

CERE opened at $33.47 on Wednesday. The business’s 50-day moving average is $27.00 and its two-hundred day moving average is $28.47. Cerevel Therapeutics has a 1 year low of $19.86 and a 1 year high of $46.16.

Cerevel Therapeutics (NASDAQ:CEREGet Rating) last issued its quarterly earnings results on Monday, August 1st. The biotechnology company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.14). During the same period last year, the business earned ($0.42) earnings per share. As a group, research analysts anticipate that Cerevel Therapeutics will post -2.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider John Renger sold 25,000 shares of Cerevel Therapeutics stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $30.00, for a total transaction of $750,000.00. Following the completion of the sale, the insider now owns 2,704 shares of the company’s stock, valued at $81,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Cerevel Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its holdings in shares of Cerevel Therapeutics by 46.8% during the second quarter. Nisa Investment Advisors LLC now owns 1,380 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 440 shares during the period. Centaurus Financial Inc. acquired a new position in Cerevel Therapeutics in the first quarter valued at approximately $105,000. Dupont Capital Management Corp acquired a new position in Cerevel Therapeutics in the fourth quarter valued at approximately $117,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cerevel Therapeutics by 82.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,477 shares of the biotechnology company’s stock valued at $178,000 after acquiring an additional 2,478 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in Cerevel Therapeutics in the fourth quarter valued at approximately $256,000.

About Cerevel Therapeutics

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Cerevel Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, engages in the development of various therapies for neuroscience diseases. It is developing emraclidine, a positive allosteric modulator (PAM) that is in phase 1b clinical trials for the treatment of schizophrenia; and Darigabat, a PAM, which is in Phase 2 proof-of-concept trial in patients with drug-resistant focal onset seizures in epilepsy or focal epilepsy, as well as in phase 1 trial to treat acute anxiety.

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