Curis (CRIS) Downgraded by Zacks Investment Research to “Sell”
Zacks Investment Research downgraded shares of Curis (NASDAQ:CRIS) from a hold rating to a sell rating in a report released on Tuesday.
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. “
CRIS has been the topic of a number of other reports. Guggenheim started coverage on shares of Curis in a research note on Monday, October 23rd. They set a buy rating and a $7.00 price target on the stock. ValuEngine cut shares of Curis from a hold rating to a sell rating in a research note on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Curis has an average rating of Hold and an average price target of $6.50.
Curis (NASDAQ:CRIS) traded up $0.01 during trading hours on Tuesday, hitting $0.70. 1,558,200 shares of the stock were exchanged, compared to its average volume of 1,400,925. The company has a debt-to-equity ratio of 1.24, a quick ratio of 5.15 and a current ratio of 5.15. Curis has a fifty-two week low of $0.67 and a fifty-two week high of $3.22. The firm has a market cap of $114.93, a PE ratio of -1.79 and a beta of 1.63.
Curis (NASDAQ:CRIS) last posted its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). Curis had a negative return on equity of 250.58% and a negative net margin of 629.29%. The company had revenue of $2.44 million for the quarter, compared to analyst estimates of $2.19 million. During the same period last year, the company earned ($0.21) earnings per share. The business’s revenue for the quarter was up 38.6% compared to the same quarter last year. analysts forecast that Curis will post -0.41 EPS for the current year.
In other Curis news, CEO Ali Ph.D. Fattaey acquired 50,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were purchased at an average cost of $1.06 per share, with a total value of $53,000.00. Following the purchase, the chief executive officer now owns 115,890 shares in the company, valued at $122,843.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.07% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Curis by 1.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 119,638 shares of the biotechnology company’s stock worth $226,000 after acquiring an additional 1,880 shares during the period. Rhumbline Advisers increased its position in Curis by 1.9% during the 2nd quarter. Rhumbline Advisers now owns 127,529 shares of the biotechnology company’s stock worth $241,000 after purchasing an additional 2,340 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Curis by 8.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 100,023 shares of the biotechnology company’s stock worth $190,000 after purchasing an additional 8,102 shares in the last quarter. Voya Investment Management LLC increased its position in Curis by 21.8% during the 2nd quarter. Voya Investment Management LLC now owns 68,138 shares of the biotechnology company’s stock worth $129,000 after purchasing an additional 12,207 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Curis by 4.9% during the 2nd quarter. Royal Bank of Canada now owns 956,717 shares of the biotechnology company’s stock worth $1,808,000 after purchasing an additional 44,421 shares in the last quarter. Institutional investors and hedge funds own 55.22% of the company’s stock.
Curis Company Profile
Curis, Inc is a biotechnology company seeking to develop and commercialize drug candidates for the treatment of cancers. The Company’s drug candidate is CUDC-907, an orally-available, small molecule inhibitor of histone deacetylase (HDAC) and phosphatidylinositol-3-kinase (PI3K) enzymes. CUDC-907 is an oral, dual inhibitor of Class I and II HDAC, as well as Class I PI3K enzymes.
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