Cerevel Therapeutics Holdings Inc [NASDAQ: CERE] loss -0.79% on the last trading session, reaching $42.93 price per share at the time. The company report on December 6, 2023 at 4:30 PM that AbbVie to Acquire Cerevel Therapeutics in Transformative Transaction to Strengthen Neuroscience Pipeline.
Proposed acquisition adds robust pipeline of assets focused on best-in-class potential for psychiatric and neurological disorders where significant unmet needs remain.
Cerevel’s clinical-stage pipeline complements AbbVie’s current on-market portfolio and emerging neuroscience pipeline.
If compared to the average trading volume of 2.76M shares, CERE reached a trading volume of 4018750 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $44.78 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 3.00. 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.
TD Cowen have made an estimate for Cerevel Therapeutics Holdings Inc shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on December 08, 2023.
The Average True Range (ATR) for Cerevel Therapeutics Holdings Inc is set at 0.46 The Price to Book ratio for the last quarter was 24.78, with the Price to Cash per share for the same quarter was set at 3.73.
Trading performance analysis for CERE stock
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 1.78. With this latest performance, CERE shares gained by 1.66% in over the last four-week period, additionally plugging by 100.70% over the last 6 months – not to mention a rise of 31.32% in the past year of trading.
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 66.30, with the RSI for the last a single of trading hit 63.36, and the three-weeks RSI is set at 69.91 for Cerevel Therapeutics Holdings Inc [CERE]. The present Moving Average for the last 50 days of trading for this stock 41.81, while it was recorded at 43.01 for the last single week of trading, and 30.57 for the last 200 days.
Cerevel Therapeutics Holdings Inc [CERE]: A deeper dive into fundamental analysis
Cerevel Therapeutics Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.72 and a Current Ratio set at 8.72.
Cerevel Therapeutics Holdings Inc [CERE]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Cerevel Therapeutics Holdings Inc posted -0.59/share EPS, while the average EPS was predicted by analysts to be reported at -0.64/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CERE.
An analysis of Institutional ownership at Cerevel Therapeutics Holdings Inc [CERE]
The top three institutional holders of CERE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in CERE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in CERE stock with ownership which is approximately 5.8325%.
