Goldman Sachs Maintains Cerevel Therapeutics Neutral Recommendation

Investing

Published: May 24, 2023 3:36 am

Last Updated: May 24, 2023 11:07 am

Fintel reports that on May 23, 2023, Goldman Sachs maintained coverage of Cerevel Therapeutics Holdings (NASDAQ:CERE) with a Neutral recommendation.

Analyst Price Forecast Suggests 11.29% Upside

As of May 11, 2023, the average one-year price target for Cerevel Therapeutics Holdings is 37.03. The forecasts range from a low of 22.22 to a high of $48.30. The average price target represents an increase of 11.29% from its latest reported closing price of 33.27.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Cerevel Therapeutics Holdings is 0MM. The projected annual non-GAAP EPS is -2.69.

What is the Fund Sentiment?

There are 322 funds or institutions reporting positions in Cerevel Therapeutics Holdings. This is a decrease of 11 owner(s) or 3.30% in the last quarter. Average portfolio weight of all funds dedicated to CERE is 0.26%, a decrease of 8.82%. Total shares owned by institutions increased in the last three months by 0.62% to 139,192K shares. The put/call ratio of CERE is 1.53, indicating a bearish outlook.

What are Other Shareholders Doing?

Bain Capital Investors holds 60,632K shares representing 38.66% ownership of the company. No change in the last quarter.

Perceptive Advisors holds 6,512K shares representing 4.15% ownership of the company. No change in the last quarter.

FDGRX – Fidelity Growth Company Fund holds 5,742K shares representing 3.66% ownership of the company. In it’s prior filing, the firm reported owning 5,806K shares, representing a decrease of 1.11%. The firm decreased its portfolio allocation in CERE by 6.41% over the last quarter.

Price T Rowe Associates holds 4,800K shares representing 3.06% ownership of the company. In it’s prior filing, the firm reported owning 4,805K shares, representing a decrease of 0.10%. The firm decreased its portfolio allocation in CERE by 28.11% over the last quarter.

Rock Springs Capital Management holds 2,514K shares representing 1.60% ownership of the company. In it’s prior filing, the firm reported owning 2,506K shares, representing an increase of 0.30%. The firm decreased its portfolio allocation in CERE by 23.09% over the last quarter.

Cerevel Therapeutics Holdings Background Information
(This description is provided by the company.)

Cerevel Therapeutics is dedicated to unraveling the mysteries of the brain to treat neuroscience diseases. The company is tackling neuroscience diseases with a differentiated approach that combines expertise in neurocircuitry with a focus on receptor selectivity. Cerevel Therapeutics has a diversified pipeline comprising five clinical-stage investigational therapies and several pre-clinical compounds with the potential to treat a range of neuroscience diseases, including Parkinson’s, epilepsy, schizophrenia and substance use disorder. Headquartered in Cambridge, Mass., Cerevel Therapeutics is advancing its current research and development programs while exploring new modalities through internal research efforts, external collaborations or potential acquisitions.

Key filings for this company: