Cerecor Inc (NASDAQ:CERC) Expected to Post Quarterly Sales of $8.80 Million

Wall Street analysts expect Cerecor Inc (NASDAQ:CERC) to announce $8.80 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Cerecor’s earnings, with the highest sales estimate coming in at $20.10 million and the lowest estimate coming in at $1.00 million. The business is expected to issue its next earnings results on Thursday, February 13th.

On average, analysts expect that Cerecor will report full year sales of $24.20 million for the current year, with estimates ranging from $16.40 million to $36.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $22.80 million, with estimates ranging from $22.60 million to $23.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Cerecor.

Cerecor (NASDAQ:CERC) last issued its quarterly earnings results on Thursday, November 14th. The company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The company had revenue of $5.61 million for the quarter, compared to the consensus estimate of $5.15 million. Cerecor had a negative return on equity of 121.32% and a negative net margin of 113.66%.

Several research analysts have recently issued reports on CERC shares. Oppenheimer started coverage on Cerecor in a research report on Friday, January 10th. They set an “outperform” rating and a $11.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective (up from $11.00) on shares of Cerecor in a research report on Monday, December 2nd. ValuEngine cut Cerecor from a “buy” rating to a “hold” rating in a research report on Thursday, November 28th. Maxim Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of Cerecor in a research report on Friday, November 15th. Finally, LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $10.00 price objective on shares of Cerecor in a research report on Friday, December 6th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $10.75.

NASDAQ:CERC opened at $4.81 on Wednesday. The stock has a 50-day simple moving average of $4.47 and a 200-day simple moving average of $3.88. Cerecor has a 1 year low of $2.91 and a 1 year high of $7.65. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 0.78.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Cerecor by 4,046.6% in the 2nd quarter. BlackRock Inc. now owns 1,205,533 shares of the company’s stock valued at $6,559,000 after purchasing an additional 1,176,460 shares during the period. Vanguard Group Inc. boosted its position in shares of Cerecor by 56.5% in the 2nd quarter. Vanguard Group Inc. now owns 678,000 shares of the company’s stock valued at $3,689,000 after purchasing an additional 244,657 shares during the period. State Street Corp boosted its position in shares of Cerecor by 20.6% in the 3rd quarter. State Street Corp now owns 342,223 shares of the company’s stock valued at $1,126,000 after purchasing an additional 58,538 shares during the period. Wells Fargo & Company MN acquired a new stake in shares of Cerecor in the 2nd quarter valued at about $853,000. Finally, Millennium Management LLC acquired a new stake in shares of Cerecor in the 3rd quarter valued at about $305,000. 60.84% of the stock is owned by hedge funds and other institutional investors.

About Cerecor

Cerecor Inc, a pharmaceutical company, focuses on pediatric health care. Its lead product portfolio includes prescribed dietary supplements, such as Poly-Vi-Flor and Tri-Vi-Flor; and prescription drugs, such as Millipre, Ulesfia, Karbinal ER, AcipHex Sprinkle, and Cefaclor for oral suspension, as well as Flexichamber a medical device.

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