FBR & Co Weighs in on Curis Inc.’s Q3 2016 Earnings (CRIS)
Curis Inc. (NASDAQ:CRIS) – Research analysts at FBR & Co upped their Q3 2016 earnings per share estimates for Curis in a note issued to investors on Monday. FBR & Co analyst C. James now forecasts that the brokerage will post earnings of ($0.09) per share for the quarter, up from their previous estimate of ($0.13). FBR & Co currently has a “Buy” rating on the stock. FBR & Co also issued estimates for Curis’ FY2016 earnings at ($0.34) EPS, FY2017 earnings at ($0.51) EPS, FY2018 earnings at ($0.61) EPS, FY2019 earnings at ($0.43) EPS and FY2020 earnings at ($0.21) EPS.
Curis (NASDAQ:CRIS) last released its earnings results on Thursday, August 4th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.09). The company had revenue of $1.70 million for the quarter, compared to analyst estimates of $2.05 million. Curis had a negative net margin of 526.72% and a negative return on equity of 65.51%. The firm’s quarterly revenue was down 19.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.06) EPS.
CRIS has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Curis from a “sell” rating to a “hold” rating in a report on Monday, June 27th. Robert W. Baird reiterated an “outperform” rating and set a $7.00 price target on shares of Curis in a report on Wednesday, September 7th. Finally, RBC Capital Markets set a $7.00 price target on shares of Curis and gave the stock a “buy” rating in a report on Wednesday, October 12th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $5.05.
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Curis (NASDAQ:CRIS) traded up 1.259% during midday trading on Wednesday, reaching $2.815. 130,020 shares of the company’s stock were exchanged. The firm’s market capitalization is $364.46 million. The stock’s 50 day moving average is $2.38 and its 200 day moving average is $1.91. Curis has a 52 week low of $1.25 and a 52 week high of $3.42.
A number of large investors have recently added to or reduced their stakes in CRIS. TFS Capital LLC increased its stake in Curis by 92.4% in the second quarter. TFS Capital LLC now owns 425,243 shares of the company’s stock worth $663,000 after buying an additional 204,278 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Curis during the second quarter valued at about $312,000. Janney Montgomery Scott LLC acquired a new stake in Curis during the second quarter valued at about $310,000. Jacobs Levy Equity Management Inc. acquired a new stake in Curis during the first quarter valued at about $248,000. Finally, State Street Corp increased its stake in Curis by 8.7% in the second quarter. State Street Corp now owns 1,579,103 shares of the company’s stock valued at $2,464,000 after buying an additional 126,694 shares in the last quarter. Hedge funds and other institutional investors own 52.36% of the company’s stock.
In related news, major shareholder Discovery Technologie Aurigene bought 10,208,333 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was purchased at an average cost of $2.40 per share, for a total transaction of $24,499,999.20. Following the completion of the acquisition, the insider now owns 27,328,464 shares in the company, valued at $65,588,313.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.09% of the stock is currently owned by corporate insiders.
Curis, Inc is a biotechnology company. The Company is engaged in the development and commercialization of drug candidates for the treatment of human cancers. The Company’s drug candidate, CUDC-907, is an orally available, small molecule inhibitor of histone deacetylase (HDAC) and phosphatidylinositol-3-kinase (PI3K) enzymes.
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