Curis Inc. (CRIS) Rating Lowered to Sell at Zacks Investment Research
Curis Inc. (NASDAQ:CRIS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
According to Zacks, “Curis, Inc. is a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, with technologies that utilize regulatory pathways that control repair and regeneration. Curis’ product development involves the use of small molecules or proteins to modulate these pathways. The company has successfully used this technology and product development approach to produce several promising drug product candidates in the fields of cancer, neurological disorders, hair growth, kidney and other diseases, as well as cardiovascular disease. “
Other analysts also recently issued research reports about the company. FBR & Co reaffirmed a “buy” rating on shares of Curis in a research note on Monday, June 13th. Robert W. Baird reissued an “outperform” rating and set a $7.00 target price on shares of Curis in a research report on Friday, June 3rd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Curis has an average rating of “Buy” and an average price target of $4.56.
Curis (NASDAQ:CRIS) opened at 2.50 on Monday. The company’s market cap is $323.68 million. The firm has a 50-day moving average price of $1.90 and a 200-day moving average price of $1.77. Curis has a 12-month low of $1.25 and a 12-month high of $3.18.
Curis (NASDAQ:CRIS) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.09). Curis had a negative return on equity of 65.51% and a negative net margin of 526.72%. The business had revenue of $1.70 million for the quarter, compared to the consensus estimate of $2.05 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The company’s revenue was down 19.0% compared to the same quarter last year. On average, equities research analysts forecast that Curis will post ($0.38) earnings per share for the current fiscal year.
In other Curis news, major shareholder Discovery Technologie Aurigene acquired 10,208,333 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was bought at an average price of $2.40 per share, for a total transaction of $24,499,999.20. Following the acquisition, the insider now directly owns 27,328,464 shares in the company, valued at $65,588,313.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.09% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its position in Curis by 0.9% in the second quarter. Royal Bank of Canada now owns 811,129 shares of the company’s stock worth $1,265,000 after buying an additional 7,220 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in Curis during the second quarter worth about $146,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Curis during the second quarter valued at $312,000. Barclays PLC boosted its stake in shares of Curis by 10,149.4% in the second quarter. Barclays PLC now owns 64,059 shares of the company’s stock valued at $100,000 after buying an additional 63,434 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Curis by 8.7% in the second quarter. State Street Corp now owns 1,579,103 shares of the company’s stock valued at $2,464,000 after buying an additional 126,694 shares in the last quarter. Institutional investors own 52.36% of the company’s stock.
Curis, Inc is a biotechnology company. The Company is engaged in the development and commercialization of drug candidates for the treatment of human cancers. The Company’s drug candidate, CUDC-907, is an orally available, small molecule inhibitor of histone deacetylase (HDAC) and phosphatidylinositol-3-kinase (PI3K) enzymes.
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