Curis Inc. (CRIS) Upgraded to “Hold” by 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 equities analysts have also recently weighed in on the company. Robert W. Baird reaffirmed an outperform rating and issued a $7.00 price target 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 investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $4.56.
Shares of Curis (NASDAQ:CRIS) opened at 2.74 on Tuesday. Curis has a 52 week low of $1.25 and a 52 week high of $3.18. The company’s 50 day moving average price is $2.02 and its 200-day moving average price is $1.81. The company’s market capitalization is $354.75 million.
Curis (NASDAQ:CRIS) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The company earned $1.70 million during the quarter, compared to analysts’ expectations of $2.05 million. Curis had a negative return on equity of 65.51% and a negative net margin of 526.72%. Curis’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) EPS. Analysts anticipate that Curis will post ($0.38) earnings per share for the current fiscal year.
In other news, major shareholder Discovery Technologie Aurigene acquired 10,208,333 shares of the business’s stock in a transaction on Wednesday, September 7th. The stock was bought at an average cost of $2.40 per share, for a total transaction 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 this hyperlink. Company insiders own 6.09% of the company’s stock.
Large investors have recently bought and sold shares of the stock. TFS Capital LLC raised its stake in Curis by 92.4% in the second quarter. TFS Capital LLC now owns 425,243 shares of the company’s stock worth $663,000 after buying an additional 204,278 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Curis during the second quarter worth about $312,000. Janney Montgomery Scott LLC bought a new stake in Curis during the second quarter worth about $310,000. Jacobs Levy Equity Management Inc. bought a new stake in Curis during the first quarter worth about $248,000. Finally, State Street Corp raised its stake in Curis by 8.7% in the second quarter. State Street Corp now owns 1,579,103 shares of the company’s stock worth $2,464,000 after buying an additional 126,694 shares during the period. Institutional investors and hedge funds own 52.36% of the company’s stock.
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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