FY2020 EPS Estimates for Curis Inc. (CRIS) Lifted by Analyst
Curis Inc. (NASDAQ:CRIS) – Equities researchers at SunTrust Banks boosted their FY2020 earnings per share estimates for Curis in a report released on Tuesday. SunTrust Banks analyst P. Lawson now anticipates that the firm will earn $0.06 per share for the year, up from their prior forecast of $0.03.
Curis (NASDAQ:CRIS) last released its earnings results on Thursday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.09). The company had revenue of $1.70 million for the quarter, compared to analyst estimates of $2.05 million. Curis had a negative net margin of 526.72% and a negative return on equity of 65.51%. The firm’s quarterly revenue was down 19.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.06) EPS.
A number of other equities research analysts also recently issued reports on CRIS. Zacks Investment Research upgraded shares of Curis from a “sell” rating to a “hold” rating in a report on Monday, June 27th. Robert W. Baird restated an “outperform” rating and issued a $7.00 target price on shares of Curis in a report on Wednesday, September 7th. FBR & Co reaffirmed a “buy” rating on shares of Curis in a research report on Thursday, September 8th. Finally, RBC Capital Markets set a $7.00 price target on shares of Curis and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Curis presently has an average rating of “Buy” and a consensus target price of $5.05.
Shares of Curis (NASDAQ:CRIS) traded down 7.88% during midday trading on Thursday, hitting $2.69. 904,501 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $2.32 and its 200-day moving average is $1.89. Curis has a 1-year low of $1.25 and a 1-year high of $3.42. The stock’s market cap is $348.28 million.
In other news, major shareholder Discovery Technologie Aurigene bought 10,208,333 shares of Curis stock in a transaction dated Wednesday, September 7th. The shares were acquired at an average cost of $2.40 per share, with a total value of $24,499,999.20. Following the completion of the transaction, the insider now owns 27,328,464 shares in the company, valued at approximately $65,588,313.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.09% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its position in Curis by 5.4% in the first quarter. State Street Corp now owns 1,452,409 shares of the company’s stock worth $2,341,000 after buying an additional 73,759 shares during the last quarter. Geode Capital Management LLC boosted its position in Curis by 2.5% in the first quarter. Geode Capital Management LLC now owns 772,054 shares of the company’s stock worth $1,243,000 after buying an additional 18,476 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Curis during the first quarter worth approximately $248,000. Bank of New York Mellon Corp boosted its position in Curis by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 357,246 shares of the company’s stock worth $558,000 after buying an additional 2,501 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Curis during the second quarter worth approximately $359,000. 52.36% of the stock is currently owned by institutional investors and hedge funds.
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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