Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE) Given Average Rating of "Hold" by Analysts

Shares of Cerevel Therapeutics Holdings, Inc. (NASDAQ:CERE - Get Free Report) have been assigned a consensus rating of "Hold" from the ten brokerages that are covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $41.40.

CERE has been the topic of a number of research analyst reports. Jefferies Financial Group reissued a "hold" rating and issued a $45.00 price target (up from $40.00) on shares of Cerevel Therapeutics in a research note on Friday, December 22nd. 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. Finally, 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.

Insider Transactions at Cerevel Therapeutics

In other news, insider John Renger sold 2,161 shares of the firm's stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director N Anthony Coles sold 50,000 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $41.01, for a total transaction of $2,050,500.00. Following the sale, the director now directly owns 15,638 shares in the company, valued at approximately $641,314.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Renger sold 2,161 shares of the firm's stock in a transaction dated Wednesday, February 7th. The shares were 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 in the company, valued at $264,609.80. The disclosure for this sale can be found here. Insiders have sold a total of 104,667 shares of company stock worth $4,302,367 in the last three months. 5.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cerevel Therapeutics

Hedge funds have recently modified their holdings of the stock. Pacific Capital Wealth Advisors Inc. purchased a new stake in shares of Cerevel Therapeutics during the 4th quarter valued at about $71,000. Royal Bank of Canada increased its holdings 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 purchasing an additional 480 shares during the last quarter. KBC Group NV purchased a new stake in Cerevel Therapeutics during the 4th quarter worth approximately $88,000. Centaurus Financial Inc. purchased a new stake in Cerevel Therapeutics during the 1st quarter worth approximately $105,000. Finally, Tower Research Capital LLC TRC increased its holdings 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 purchasing 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 Price Performance

Shares of CERE traded down $0.08 during trading hours on Tuesday, reaching $42.13. 748,979 shares of the company traded hands, compared to its average volume of 1,543,672. The company has a quick ratio of 10.92, a current ratio of 10.92 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $7.65 billion, a PE ratio of -16.85 and a beta of 1.48. Cerevel Therapeutics has a fifty-two week low of $19.59 and a fifty-two week high of $43.59. The stock has a fifty day simple moving average of $41.95 and a 200 day simple moving average of $35.28.

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.