Curis, Inc. (CRIS) Cut to Sell at Zacks Investment Research
Curis, Inc. (NASDAQ:CRIS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
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 have also recently issued reports on the stock. ValuEngine cut shares of Curis from a “hold” rating to a “sell” rating in a research note on Friday, September 15th. BidaskClub lowered shares of Curis from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. Curis has an average rating of “Hold” and a consensus price target of $5.50.
Shares of Curis (NASDAQ:CRIS) traded up 1.26% on Tuesday, hitting $1.61. 1,365,612 shares of the stock were exchanged. Curis has a one year low of $1.47 and a one year high of $3.72. The firm’s 50-day moving average is $1.79 and its 200-day moving average is $2.04. The company’s market cap is $231.64 million.
Curis (NASDAQ:CRIS) last released its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Curis had a negative return on equity of 236.43% and a negative net margin of 836.18%. The firm had revenue of $2.10 million for the quarter, compared to analyst estimates of $2.08 million. During the same period in the previous year, the firm earned ($0.09) earnings per share. Curis’s revenue was up 23.5% on a year-over-year basis. On average, equities analysts forecast that Curis will post ($0.40) EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its holdings in shares of Curis by 8.8% during the second quarter. The Manufacturers Life Insurance Company now owns 100,023 shares of the biotechnology company’s stock valued at $190,000 after buying an additional 8,102 shares in the last quarter. State Street Corp boosted its position in Curis by 10.4% during the 2nd quarter. State Street Corp now owns 1,857,044 shares of the biotechnology company’s stock worth $3,511,000 after acquiring an additional 175,424 shares during the period. Royal Bank of Canada boosted its position in Curis by 4.9% during the 2nd quarter. Royal Bank of Canada now owns 956,717 shares of the biotechnology company’s stock worth $1,808,000 after acquiring an additional 44,421 shares during the period. Goldman Sachs Group Inc. boosted its position in Curis by 1.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 119,638 shares of the biotechnology company’s stock worth $226,000 after acquiring an additional 1,880 shares during the period. Finally, Voya Investment Management LLC boosted its position in Curis by 21.8% during the 2nd quarter. Voya Investment Management LLC now owns 68,138 shares of the biotechnology company’s stock worth $129,000 after acquiring an additional 12,207 shares during the period. Institutional investors own 44.72% of the company’s stock.
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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