Curis, Inc. (CRIS) Rating Increased to Hold at Zacks Investment Research
Curis, Inc. (NASDAQ:CRIS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
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. “
Several other equities analysts also recently issued reports on the company. Cowen and Company reiterated a “buy” rating on shares of Curis in a research report on Wednesday, March 22nd. ValuEngine upgraded Curis from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $5.88.
Shares of Curis (NASDAQ CRIS) traded down 0.47% during trading on Monday, hitting $2.14. The stock had a trading volume of 257,216 shares. The firm’s market cap is $307.67 million. Curis has a one year low of $1.56 and a one year high of $3.72. The firm’s 50-day moving average is $1.82 and its 200-day moving average is $2.50.
Curis (NASDAQ:CRIS) last issued its quarterly earnings data on Thursday, May 4th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by $0.02. The business had revenue of $2.13 million for the quarter, compared to analyst estimates of $1.98 million. Curis had a negative return on equity of 163.29% and a negative net margin of 841.05%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. Equities research analysts forecast that Curis will post ($0.40) EPS for the current year.
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In related news, Director James R. Mcnab sold 76,276 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $2.04, for a total transaction of $155,603.04. Following the sale, the director now owns 879,688 shares of the company’s stock, valued at $1,794,563.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James R. Mcnab sold 110,322 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $2.59, for a total value of $285,733.98. Following the sale, the director now directly owns 1,357,147 shares in the company, valued at approximately $3,515,010.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 450,000 shares of company stock worth $1,101,973. 4.07% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new stake in shares of Curis during the first quarter valued at approximately $1,391,000. Metropolitan Life Insurance Co. NY boosted its stake in shares of Curis by 9.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 90,156 shares of the biotechnology company’s stock valued at $251,000 after buying an additional 7,638 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Curis during the first quarter valued at approximately $408,000. Perceptive Advisors LLC purchased a new stake in shares of Curis during the first quarter valued at approximately $1,390,000. Finally, Bank of America Corp DE boosted its stake in shares of Curis by 58.7% in the first quarter. Bank of America Corp DE now owns 36,348 shares of the biotechnology company’s stock valued at $101,000 after buying an additional 13,448 shares during the last quarter. 51.63% of the stock is currently owned by hedge funds and other institutional investors.
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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