Cerevel Therapeutics Holdings Inc. [NASDAQ: CERE] slipped around -3.72 points on Friday, while shares priced at $23.13 at the close of the session, down -13.85%. The company report on July 2, 2021 that Cerevel Therapeutics Announces Pricing of $350 Million Public Offering of Common Stock.
Cerevel Therapeutics (Nasdaq: CERE), a company dedicated to unraveling the mysteries of the brain to treat neuroscience diseases, announced the pricing of its previously announced underwritten public offering of 14,000,000 shares of common stock at a public offering price of $25.00 per share. The gross proceeds to Cerevel of the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $350 million. The offering is expected to close on July 7, 2021, subject to customary closing conditions. In addition, Cerevel has granted the underwriters a 30-day option to purchase an additional 2,100,000 shares of its common stock, at the public offering price, less underwriting discounts and commissions.
J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, Jefferies LLC, and Stifel, Nicolaus & Company, Incorporated are acting as joint book-running managers for the offering. Loop Capital Markets LLC and Siebert Williams Shank & Co., LLC are acting as co-managers.
Cerevel Therapeutics Holdings Inc. stock is now 39.51% up from its year-to-date (YTD) trading value. CERE Stock saw the intraday high of $25.52 and lowest of $22.505 per share. The company’s 52-week high price is 31.09, which means current price is +92.59% above from all time high which was touched on 06/29/21.
Compared to the average trading volume of 1.91M shares, CERE reached a trading volume of 7747977 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Cerevel Therapeutics Holdings Inc. [CERE]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CERE shares is $25.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CERE stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for Cerevel Therapeutics Holdings Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 18, 2021. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on December 10, 2020, representing the official price target for Cerevel Therapeutics Holdings Inc. stock. Previously, the target price had yet another raise to $18, while Jefferies analysts kept a Buy rating on CERE stock.
The Average True Range (ATR) for Cerevel Therapeutics Holdings Inc. is set at 2.52 The Price to Book ratio for the last quarter was 8.66, with the Price to Cash per share for the same quarter was set at 2.32.
How has CERE stock performed recently?
Cerevel Therapeutics Holdings Inc. [CERE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 78.47. With this latest performance, CERE shares gained by 67.12% in over the last four-week period, additionally plugging by 39.51% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CERE stock in for the last two-week period is set at 63.62, with the RSI for the last a single of trading hit 63.09, and the three-weeks RSI is set at 63.13 for Cerevel Therapeutics Holdings Inc. [CERE]. The present Moving Average for the last 50 days of trading for this stock 14.79, while it was recorded at 23.57 for the last single week of trading, and 13.91 for the last 200 days.
Cerevel Therapeutics Holdings Inc. [CERE]: Deeper insight into the fundamentals
When it comes to the capital structure of this company, Cerevel Therapeutics Holdings Inc. [CERE] has a Total Debt to Total Equity ratio set at 8.58. Additionally, CERE Total Debt to Total Capital is recorded at 7.90, with Total Debt to Total Assets ending up at 7.41. Long-Term Debt to Equity for the company is recorded at 8.05, with the Long-Term Debt to Total Capital now at 7.42.
Reflecting on the efficiency of the workforce at the company, Cerevel Therapeutics Holdings Inc. [CERE] managed to generate an average of -$1,425,683 per employee.Cerevel Therapeutics Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.20 and a Current Ratio set at 10.20.
Insider trade positions for Cerevel Therapeutics Holdings Inc. [CERE]
There are presently around $2,316 million, or 78.90% of CERE stock, in the hands of institutional investors. The top three institutional holders of CERE stocks are: BAIN CAPITAL INVESTORS LLC with ownership of 60,632,356, which is approximately 0% of the company’s market cap and around 0.10% of the total institutional ownership; FMR LLC, holding 5,112,400 shares of the stock with an approximate value of $118.25 million in CERE stocks shares; and PERCEPTIVE ADVISORS LLC, currently with $107.39 million in CERE stock with ownership of nearly 2.179% of the company’s market capitalization.
Positions in Cerevel Therapeutics Holdings Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 38 institutional holders increased their position in Cerevel Therapeutics Holdings Inc. [NASDAQ:CERE] by around 6,268,277 shares. Additionally, 26 investors decreased positions by around 3,341,986 shares, while 10 investors held positions by with 90,540,676 shares. The mentioned changes placed institutional holdings at 100,150,939 shares, according to the latest SEC report filing. CERE stock had 15 new institutional investments in for a total of 1,855,924 shares, while 12 institutional investors sold positions of 1,959,373 shares during the same period.