An interesting stock that came up in some of our conversations today is Cerecor Inc. (NASDAQ:CERC). At current price of $5.31, the shares have already added 0.33 points (6.63% higher) from its previous close of $4.98. Should you buy or avoid them? The stock sets an active trading volume day with a reported 106604 contracts so far this session. CERC shares had a relatively better volume day versus average trading capacity of 103.6 thousand shares, but with a 31.5 million float and a 5.51% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CERC stock indicates that the average analyst price target is $9.67 per share. This means the stock has a potential increase of 82.11% from where the CERC share price has been trading recently which is between $4.629 and $5.13. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $8.
The shorts are climbing into Cerecor Inc. (CERC) stock. The latest set of short interest data was released on 15 May 2019, and the numbers show a rise in short interest in CERC shares. While short interest still represents only 1.28% of CERC’s float, the number of shares shorted have risen by 170938. The number of shares shorted advanced to 403271 shares, up from 232333 shares during the preceding fortnight. With average daily trading volumes at 94359 shares, days to cover increased to about 2.916887 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Cerecor Set to Join Russell 3000® Index” and dated June 11, 2019.
During the recent trading session for Cerecor Inc. (NASDAQ:CERC), the company witnessed their stock rise $0.3 over a week and surge $0.34 from the price 20 days ago. When compared to their established 52-week high of $7.65, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 02/27/19. The recent low of $2.71 stood for a -30.59% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.06 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Cerecor Inc., the two-week RSI stands at 54.79. This figure suggests that CERC stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CERC readings is similarly very revealing as it has a stochastic reading of 62.65% at this stage. This figure means that CERC share price today is being neutral.
Technical chart claims that Cerecor Inc. (CERC) would settle between $5.2/share to $5.41/share level. However, if the stock price goes below the $4.7 mark, then the market for Cerecor Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $4.41 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.1. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Maxim Group, assumed coverage of CERC assigning Buy rating, according to their opinion released on April 09. H.C. Wainwright, analysts launched coverage of Cerecor Inc. (NASDAQ:CERC) stock with a Buy recommendation, according to their flash note issued to investors on April 01. Analysts at Ladenburg Thalmann, made their first call for the equity with a Buy recommendation, according to a research note that dated back to December 20.
CERC equity has an average rating of 1.67, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Cerecor Inc. (NASDAQ:CERC) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CERC stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 27.69 while for the average stock in the same group, the multiple is 49.5.