Cerevel Therapeutics Holdings Inc. (NASDAQ:CERE) finished Friday with an addition of $0.05 to close at $22.04, an upside of 0.23 percent. An average of 1,127,980 shares of common stock have been traded in the last five days. There was a fall of -$0.43 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 859,640 shares traded, while the 50-day average volume stands at 661,486.
CERE stock has decreased by -26.73% in the last month. The company shares reached their 1-month lowest point of $20.49 on 08/07/23. With the stock rallying to its 52-week high on 06/16/23, shares of the company touched a low of $20.49 and a high of $36.91 in 52 weeks. It has reached a new high 9 times so far this year and lost -30.12% or -$9.50 in price. In spite of this, the price is down -40.29% from the 52-week high.
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Insider Transactions
CERE stock investors should be aware that Cerevel Therapeutics Holdings Inc. (CERE) stock had its last reported insider trading activity 32 days ago on Aug 04. In this transaction, the insider spent $1,501,340. Director, DEKKERS MARIJN E, disposed of 200,000 shares at a price of $34.43 on Jun 15. The insider now owns more than $6,886,000 worth of shares. Prior to that, Bodenrader Mark went on to Sale 1,895 shares at $32.95 each on Jun 02. An amount of $62,440 was transacted.
Valuation Metrics
Cerevel Therapeutics Holdings Inc. (CERE) stock’s beta is 1.47. Other valuation ratios to consider include the price-to-book (PB) ratio at 9.88.
Financial Health
The quick ratio of Cerevel Therapeutics Holdings Inc. for the three months ended June 29 was 11.50, and the current ratio was 11.50, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.96 and a total debt to equity ratio of 0.96 for the quarter ending June 29. Its gross profit as reported stood at $16.5 million compared to revenue of $367.85 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Cerevel Therapeutics Holdings Inc.’s return on assets was -40.30%.
Earnings Surprise
For the three-month period that ended June 29, Cerevel Therapeutics Holdings Inc. had $560.66 million in cash. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$99.54 million in the quarter, while revenues were grew 9.11%. The analyst consensus anticipated Cerevel Therapeutics Holdings Inc.’s latest quarter earnings to come in at -$0.65 per share, but it turned out to be -$0.63, a 3.10% surprise. For the quarter, EBITDA amounted to -$99.96 million. Shareholders own equity worth $157.49 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Cerevel Therapeutics Holdings Inc. (CERE) price momentum. RSI 9-day as of the close on 11 August was 23.61%, suggesting the stock is oversold, with historical volatility in this time frame at 96.06%.
As of today, CERE’s price is $21.65 -1.91% or -$0.43 from its 5-day moving average. CERE is currently trading -26.97% lower than its 20-day SMA and -10.15% lower than its 100-day SMA. However, the stock’s current price level is -32.39% below the SMA50 and -15.62% below the SMA200.
The stochastic %K and %D were 14.24% and 12.12%, respectively, and the average true range (ATR) was 1.38. With the 14-day stochastic at 14.82% and the average true range at 1.33, the RSI (14) stands at 25.19%. The stock has reached -1.52 on the 9-day MACD Oscillator while the 14-day reading was at -3.96.
Analyst Ratings
BofA Securities downgraded Cerevel Therapeutics Holdings Inc. (NASDAQ: CERE) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Cerevel Therapeutics Holdings Inc. (CERE) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell CERE, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 6 others rate it as a “buy”.
What is CERE’s price target for the next 12 months?
Analysts predict a range of price targets between $24.00 and $42.00, with a median target of $34.50. Taking a look at these predictions, the average price target given by analysts for Cerevel Therapeutics Holdings Inc. (CERE) stock is $34.13.
