Cerevel Therapeutics Holdings Inc. (NASDAQ:CERE) shares, rose in value on Friday, May 26, with the stock price up by 2.55% to the previous day’s close as strong demand from buyers drove the stock to $33.40.
Actively observing the price movement in the last trading, the stock closed the session at $32.57, falling within a range of $32.51 and $33.46. The value of beta (5-year monthly) was 1.48. Referring to stock’s 52-week performance, its high was $41.46, and the low was $22.10. On the whole, CERE has fluctuated by 17.73% over the past month.
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With the market capitalization of Cerevel Therapeutics Holdings Inc. currently standing at about $5.16 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jul 31, 2023 – Aug 04, 2023. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.65, which is expected to increase to -$0.58 for fiscal year -$2.52 and then to about -$2.82 by fiscal year 2024. Data indicates that the EPS growth is expected to be -8.60% in 2024, while the next year’s EPS growth is forecast to be -11.90%.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that CERE’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Buy.
11 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 5 analyst(s), 6 recommend it as a Buy and 0 called the CERE stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Overweight.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CERE currently trading nearly 4.27% and 19.72% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 64.07, while the 7-day volatility ratio is showing 4.61% which for the 30-day chart, stands at 5.41%. Furthermore, Cerevel Therapeutics Holdings Inc. (CERE)’s average true range (ATR) is 1.49. The company’s stock has been forecasted to trade at an average price of $35.60 over the course of the next 52 weeks, with a low of $22.00 and a high of $46.00. Based on these price targets, the low is 34.13% off current price, whereas the price has to move -37.72% to reach the yearly target high. Additionally, analysts’ median price of $33.00 is likely to be welcomed by investors because it represents an increase of 1.2% from the current levels.
Data on historical trading for Cerevel Therapeutics Holdings Inc. (NASDAQ:CERE) indicates that the trading volumes over the past 10 days have averaged 0.43 million and over the past 3 months, they’ve averaged 610.51K. According to company’s latest data on outstanding shares, there are 156.65 million shares outstanding.
Nearly 17.56% of Cerevel Therapeutics Holdings Inc.’s shares belong to company insiders and institutional investors own 86.00% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.72 million shares as on May 14, 2023, resulting in a short ratio of 7.02. According to the data, the short interest in Cerevel Therapeutics Holdings Inc. (CERE) stood at 3.01% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 4.96 million. The stock has risen by 5.90% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CERE stock heading into the next quarter.