Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Receives $41.40 Consensus PT from Analysts

Shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) have earned an average rating of “Hold” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $41.40.

A number of brokerages recently issued reports on CERE. JPMorgan Chase & Co. raised their price target on Cerevel Therapeutics from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, December 28th. Jefferies Financial Group reissued a “hold” rating and set a $45.00 price target (up from $40.00) on shares of Cerevel Therapeutics in a research note on Friday, December 22nd. Finally, Mizuho raised their price target on Cerevel Therapeutics from $25.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th.

Insider Activity

In other news, Director N Anthony Coles sold 2,506 shares of Cerevel Therapeutics stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $41.54, for a total value of $104,099.24. Following the transaction, the director now directly owns 15,638 shares in the company, valued at approximately $649,602.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John Renger sold 2,161 shares of Cerevel Therapeutics stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $41.54, for a total value of $89,767.94. Following the transaction, the insider now directly owns 6,370 shares in the company, valued at approximately $264,609.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director N Anthony Coles sold 2,506 shares of Cerevel Therapeutics stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $41.54, for a total value of $104,099.24. Following the completion of the transaction, the director now owns 15,638 shares in the company, valued at $649,602.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,667 shares of company stock worth $4,302,367. 5.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacific Capital Wealth Advisors Inc. purchased a new position in Cerevel Therapeutics during the 4th quarter worth $71,000. KBC Group NV purchased a new position in Cerevel Therapeutics during the 4th quarter worth $88,000. Centaurus Financial Inc. purchased a new position in Cerevel Therapeutics during the 4th quarter worth $119,000. Royal Bank of Canada grew its stake in Cerevel Therapeutics by 19.4% during the 3rd quarter. Royal Bank of Canada now owns 2,959 shares of the biotechnology company’s stock worth $83,000 after buying an additional 480 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Cerevel Therapeutics by 59.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,262 shares of the biotechnology company’s stock worth $135,000 after buying an additional 1,588 shares during the last quarter. 87.73% of the stock is currently owned by hedge funds and other institutional investors.

Cerevel Therapeutics Stock Performance

NASDAQ CERE opened at $41.70 on Tuesday. The stock has a market capitalization of $7.57 billion, a PE ratio of -16.68 and a beta of 1.48. The business has a 50 day simple moving average of $41.96 and a two-hundred day simple moving average of $35.87. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.92 and a quick ratio of 10.92. Cerevel Therapeutics has a 1-year low of $19.59 and a 1-year high of $43.59.

Cerevel Therapeutics Company Profile

Cerevel Therapeutics Holdings, Inc, a clinical-stage biopharmaceutical company, develops various therapies for neuroscience diseases in the United States. 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 or focal epilepsy, as well as in phase 1 trial to treat panic symptoms model.