Curis Inc. (CRIS) Upgraded at Zacks Investment Research
According to Zacks, “Curis, Inc. is a therapeutic drug development company focusing on cancer, neurological and dermatological disease indications, with technologies that utilize regulatory pathways that control repair and regeneration. Curis’ product development involves the use of small molecules or proteins to modulate these pathways. The company has successfully used this technology and product development approach to produce several promising drug product candidates in the fields of cancer, neurological disorders, hair growth, kidney and other diseases, as well as cardiovascular disease. “
A number of other analysts have also recently weighed in on the stock. Robert W. Baird reaffirmed an outperform rating and issued a $7.00 price objective on shares of Curis in a report on Wednesday, September 7th. FBR & Co reaffirmed a buy rating on shares of Curis in a report on Thursday, September 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $4.56.
Shares of Curis (NASDAQ:CRIS) opened at 2.36 on Monday. The firm’s market capitalization is $305.55 million. The company’s 50-day moving average is $1.82 and its 200 day moving average is $1.74. Curis has a 52 week low of $1.25 and a 52 week high of $3.18.
Curis (NASDAQ:CRIS) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.09) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.09). Curis had a negative net margin of 526.72% and a negative return on equity of 65.51%. The business had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $2.05 million. During the same quarter last year, the company earned ($0.06) EPS. The company’s revenue for the quarter was down 19.0% compared to the same quarter last year. Analysts anticipate that Curis will post ($0.38) EPS for the current fiscal year.
In related news, major shareholder Discovery Technologie Aurigene bought 10,208,333 shares of the stock in a transaction on Wednesday, September 7th. The shares were purchased at an average price of $2.40 per share, with a total value of $24,499,999.20. Following the purchase, the insider now owns 27,328,464 shares in the company, valued at $65,588,313.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.09% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CRIS. Barclays PLC boosted its position in Curis by 10,149.4% in the second quarter. Barclays PLC now owns 64,059 shares of the company’s stock valued at $100,000 after buying an additional 63,434 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in Curis during the second quarter valued at $146,000. ProShare Advisors LLC raised its position in Curis by 1.3% in the second quarter. ProShare Advisors LLC now owns 109,812 shares of the company’s stock valued at $171,000 after buying an additional 1,418 shares during the period. Rhumbline Advisers raised its position in Curis by 27.2% in the second quarter. Rhumbline Advisers now owns 138,986 shares of the company’s stock valued at $217,000 after buying an additional 29,751 shares during the period. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Curis during the first quarter valued at $248,000. 52.36% of the stock is currently owned by hedge funds and other institutional investors.
Curis Company Profile
Curis, Inc is a biotechnology company. The Company is engaged in the development and commercialization of drug candidates for the treatment of human cancers. The Company’s drug candidate, CUDC-907, is an orally available, small molecule inhibitor of histone deacetylase (HDAC) and phosphatidylinositol-3-kinase (PI3K) enzymes.
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