In a report released yesterday, Michael Higgins from Ladenburg maintained a Buy rating on Cerecor Inc (CERC), with a price target of $9. The company’s shares opened today at $4.95.
Higgins said:
“We are encouraged by the execution of this relatively recent pairing of Cerecor executives, which continues to deliver on its development plan. We continue to look for a swift development of these assets via the 505(b)(2) regulatory path, as all three were previously approved as excipients (but not active ingredients) and are supported by peer- reviewed, positive results from investigator-sponsored trials. Cerecor also completed pre- IND meetings for these compounds in mid-2018 and received Designation, making them eligible for priority review vouchers (PRVs) upon approval, which could be worth ~$105M each, based on the five most recent PRV transactions. We believe Cerecor will only need to conduct small Phase 1 (PK) and 3 trials before NDA filings, leading to potential approvals in 2021.”
According to TipRanks.com, Higgins is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -8.5% and a 30.3% success rate. Higgins covers the Healthcare sector, focusing on stocks such as Melinta Therapeutics Inc, Paratek Pharmaceuticals, and Zynerba Pharmaceuticals.
Cerecor Inc has an analyst consensus of Moderate Buy, with a price target consensus of $9.
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The company has a one-year high of $5.74 and a one-year low of $2.62. Currently, Cerecor Inc has an average volume of 80.08K.
Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CERC in relation to earlier this year.
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Cerecor, Inc. is a clinical stage biopharmaceutical company focuses in medical development. It involves in the discovery, manufacture and commercialization of prescription for neurological and psychiatric disorders. It products include CERC-301, CERC-501, CERC-611, and CERC-406.
