Geode Capital Management LLC Purchases 31,951 Shares of Cerecor Inc (CERC)

Geode Capital Management LLC increased its position in Cerecor Inc (NASDAQ:CERC) by 50.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 94,990 shares of the company’s stock after acquiring an additional 31,951 shares during the quarter. Geode Capital Management LLC’s holdings in Cerecor were worth $306,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CERC. Northern Trust Corp increased its stake in shares of Cerecor by 47.9% in the fourth quarter. Northern Trust Corp now owns 20,079 shares of the company’s stock valued at $65,000 after buying an additional 6,500 shares during the period. BlackRock Inc. increased its stake in shares of Cerecor by 18.5% in the fourth quarter. BlackRock Inc. now owns 33,960 shares of the company’s stock valued at $109,000 after buying an additional 5,293 shares during the period. Finally, Vanguard Group Inc increased its stake in shares of Cerecor by 10.1% in the third quarter. Vanguard Group Inc now owns 87,929 shares of the company’s stock valued at $411,000 after buying an additional 8,094 shares during the period. 50.28% of the stock is owned by institutional investors.

Several research firms have recently issued reports on CERC. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Cerecor in a research note on Monday. Maxim Group reissued a “buy” rating and set a $10.00 target price on shares of Cerecor in a research report on Friday, May 10th. ValuEngine downgraded shares of Cerecor from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 1st. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of Cerecor in a research report on Monday, April 29th. Finally, BidaskClub raised shares of Cerecor from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $9.67.

In other Cerecor news, Director Armistice Capital, Llc purchased 12,587 shares of the business’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $4.85 per share, for a total transaction of $61,046.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Armistice Capital Master Fund purchased 50,000 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were acquired at an average price of $5.47 per share, for a total transaction of $273,500.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 612,825 shares of company stock valued at $3,347,143 in the last three months. Insiders own 80.20% of the company’s stock.

NASDAQ:CERC opened at $5.29 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.95 and a quick ratio of 0.91. Cerecor Inc has a fifty-two week low of $2.71 and a fifty-two week high of $7.65.

Cerecor (NASDAQ:CERC) last released its earnings results on Thursday, May 9th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $5.41 million during the quarter, compared to the consensus estimate of $4.85 million. Cerecor had a negative net margin of 226.50% and a negative return on equity of 120.67%. Equities analysts expect that Cerecor Inc will post -0.72 EPS for the current fiscal year.

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Cerecor Company Profile

Cerecor Inc, a pharmaceutical company, focuses on pediatric health care. Its lead product portfolio includes prescribed dietary supplements, such as Poly-Vi-Flor and Tri-Vi-Flor; and prescription drugs, such as Millipre, Ulesfia, Karbinal ER, AcipHex Sprinkle, and Cefaclor for oral suspension, as well as Flexichamber a medical device.

Further Reading: Momentum Investing

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Institutional Ownership by Quarter for Cerecor (NASDAQ:CERC)

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