Curis Inc. (CRIS) Expected to Earn FY2017 Earnings of ($0.26) Per Share
Curis Inc. (NASDAQ:CRIS) – Research analysts at SunTrust Banks reduced their FY2017 earnings per share estimates for shares of Curis in a report issued on Tuesday. SunTrust Banks analyst P. Lawson now forecasts that the brokerage will earn ($0.26) per share for the year, down from their prior forecast of ($0.24). SunTrust Banks also issued estimates for Curis’ FY2019 earnings at ($0.04) EPS.
Several other analysts have also issued reports on the company. RBC Capital Markets set a $7.00 target price on Curis and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded Curis from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. FBR & Co restated a “buy” rating on shares of Curis in a research note on Thursday, September 8th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $7.00 price objective on shares of Curis in a research note on Wednesday, September 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Curis has a consensus rating of “Buy” and an average target price of $5.05.
Shares of Curis (NASDAQ:CRIS) opened at 2.69 on Friday. Curis has a 52 week low of $1.25 and a 52 week high of $3.42. The firm’s market capitalization is $348.28 million. The stock’s 50 day moving average price is $2.32 and its 200-day moving average price is $1.89.
Curis (NASDAQ:CRIS) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.09) EPS for the quarter, meeting 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 firm had revenue of $1.70 million for the quarter, compared to analyst estimates of $2.05 million. During the same period last year, the firm posted ($0.06) earnings per share. The business’s revenue for the quarter was down 19.0% on a year-over-year basis.
A number of institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of 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 in the last quarter. Geode Capital Management LLC raised its position in shares of 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 in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Curis during the first quarter worth $248,000. Bank of New York Mellon Corp raised its position in shares of 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 in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Curis during the second quarter worth $359,000. Institutional investors and hedge funds own 52.36% of the company’s stock.
In other Curis news, major shareholder Discovery Technologie Aurigene bought 10,208,333 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were acquired at an average cost of $2.40 per share, for a total transaction of $24,499,999.20. Following the purchase, the insider now directly owns 27,328,464 shares of the company’s stock, valued at $65,588,313.60. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 6.09% of the stock is owned by company insiders.
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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