Zacks Investment Research Lowers Curis (CRIS) to Sell

Curis (NASDAQ:CRIS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Friday, November 10th.

According to Zacks, “Curis, Inc. is a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, with technologies that utilize regulatory pathways that control repair and regeneration. Curis’ product development involves the use of small molecules or proteins to modulate these pathways. The company has successfully used this technology and product development approach to produce several promising drug product candidates in the fields of cancer, neurological disorders, hair growth, kidney and other diseases, as well as cardiovascular disease. “

A number of other analysts also recently issued reports on CRIS. BidaskClub downgraded Curis from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. ValuEngine raised Curis from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Guggenheim began coverage on Curis in a research report on Monday, October 23rd. They issued a “buy” rating and a $7.00 target price for the company. Three research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. Curis currently has a consensus rating of “Hold” and an average target price of $6.50.

Shares of Curis (NASDAQ CRIS) traded down $0.04 on Friday, hitting $0.81. The company had a trading volume of 2,413,600 shares, compared to its average volume of 719,542. The company has a debt-to-equity ratio of 1.24, a current ratio of 5.15 and a quick ratio of 5.15. Curis has a one year low of $0.79 and a one year high of $3.48.

Curis (NASDAQ:CRIS) last issued its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). Curis had a negative net margin of 629.29% and a negative return on equity of 250.58%. The business had revenue of $2.44 million for the quarter, compared to analysts’ expectations of $2.19 million. During the same period in the previous year, the business posted ($0.21) earnings per share. The business’s revenue was up 38.6% compared to the same quarter last year. equities research analysts predict that Curis will post -0.41 EPS for the current year.

In related news, CEO Ali Ph.D. Fattaey purchased 50,000 shares of Curis stock in a transaction dated Wednesday, November 15th. The stock was bought at an average cost of $1.06 per share, for a total transaction of $53,000.00. Following the completion of the transaction, the chief executive officer now owns 115,890 shares in the company, valued at $122,843.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.07% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. First Eagle Investment Management LLC boosted its stake in Curis by 10.4% during the third quarter. First Eagle Investment Management LLC now owns 26,508,672 shares of the biotechnology company’s stock valued at $39,498,000 after buying an additional 2,500,000 shares during the period. JPMorgan Chase & Co. boosted its stake in Curis by 62,201.8% during the third quarter. JPMorgan Chase & Co. now owns 2,381,798 shares of the biotechnology company’s stock valued at $3,691,000 after buying an additional 2,377,975 shares during the period. Vanguard Group Inc. boosted its stake in Curis by 6.7% during the first quarter. Vanguard Group Inc. now owns 4,827,625 shares of the biotechnology company’s stock valued at $13,421,000 after buying an additional 304,268 shares during the period. State Street Corp boosted its stake in Curis by 10.4% during the second quarter. State Street Corp now owns 1,857,044 shares of the biotechnology company’s stock valued at $3,511,000 after buying an additional 175,424 shares during the period. Finally, BB&T Securities LLC bought a new stake in Curis during the second quarter valued at $179,000. Institutional investors own 55.22% of the company’s stock.

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Curis Company Profile

Curis, Inc is a biotechnology company seeking to develop and commercialize drug candidates for the treatment of cancers. The Company’s drug candidate is CUDC-907, an orally-available, small molecule inhibitor of histone deacetylase (HDAC) and phosphatidylinositol-3-kinase (PI3K) enzymes. CUDC-907 is an oral, dual inhibitor of Class I and II HDAC, as well as Class I PI3K enzymes.

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