Analysts Set Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) PT at $41.40

Shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) have been assigned an average recommendation of “Hold” from the ten research firms that are covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $41.40.

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted 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 previously from $40.00) on shares of Cerevel Therapeutics in a research note on Friday, December 22nd. Finally, Mizuho upped their target price on Cerevel Therapeutics from $25.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, February 16th.

Insider Buying and Selling at Cerevel Therapeutics

In other news, Director N Anthony Coles sold 2,506 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $41.54, for a total transaction of $104,099.24. Following the completion of the sale, the director now directly owns 15,638 shares in the company, valued at approximately $649,602.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director N Anthony Coles sold 2,506 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $41.54, for a total transaction of $104,099.24. Following the completion of the sale, the director now directly owns 15,638 shares in the company, valued at approximately $649,602.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Renger sold 2,161 shares of the company’s 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 sale, the insider now owns 6,370 shares of the company’s stock, valued at $264,609.80. The disclosure for this sale can be found here. In the last three months, insiders sold 104,667 shares of company stock worth $4,302,367. Insiders own 5.10% of the company’s stock.

Institutional Trading of Cerevel Therapeutics

Several large investors have recently added to or reduced their stakes in CERE. Pacific Capital Wealth Advisors Inc. acquired a new stake in Cerevel Therapeutics in the 4th quarter valued at $71,000. Royal Bank of Canada increased its holdings in Cerevel Therapeutics by 19.4% in the 3rd quarter. Royal Bank of Canada now owns 2,959 shares of the biotechnology company’s stock valued at $83,000 after purchasing an additional 480 shares in the last quarter. KBC Group NV acquired a new stake in Cerevel Therapeutics in the 4th quarter valued at $88,000. Centaurus Financial Inc. acquired a new stake in Cerevel Therapeutics in the 1st quarter valued at $105,000. Finally, Tower Research Capital LLC TRC increased its holdings in Cerevel Therapeutics by 59.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,262 shares of the biotechnology company’s stock valued at $135,000 after purchasing an additional 1,588 shares in the last quarter. 87.73% of the stock is currently owned by institutional investors and hedge funds.

Cerevel Therapeutics Price Performance

Shares of NASDAQ:CERE opened at $41.70 on Tuesday. The business’s 50 day simple moving average is $41.96 and its 200-day simple moving average is $35.87. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of -16.68 and a beta of 1.48. 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 12 month low of $19.59 and a 12 month high of $43.59.

About Cerevel Therapeutics

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.