Millennium Management LLC Has $44,000 Holdings in Cerecor Inc (CERC)

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Millennium Management LLC trimmed its position in shares of Cerecor Inc (NASDAQ:CERC) by 78.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 13,762 shares of the company’s stock after selling 48,703 shares during the period. Millennium Management LLC’s holdings in Cerecor were worth $44,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CERC. Vanguard Group Inc grew its position in shares of Cerecor by 10.1% during the 3rd quarter. Vanguard Group Inc now owns 87,929 shares of the company’s stock valued at $411,000 after acquiring an additional 8,094 shares during the period. BlackRock Inc. grew its position in shares of Cerecor by 18.5% during the 4th quarter. BlackRock Inc. now owns 33,960 shares of the company’s stock valued at $109,000 after acquiring an additional 5,293 shares during the period. Northern Trust Corp grew its position in shares of Cerecor by 47.9% during the 4th quarter. Northern Trust Corp now owns 20,079 shares of the company’s stock valued at $65,000 after acquiring an additional 6,500 shares during the period. Geode Capital Management LLC grew its position in shares of Cerecor by 50.7% during the 4th quarter. Geode Capital Management LLC now owns 94,990 shares of the company’s stock valued at $306,000 after acquiring an additional 31,951 shares during the period. Finally, Prosight Management LP acquired a new stake in shares of Cerecor during the 4th quarter valued at about $994,000. 50.28% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CERC opened at $5.37 on Friday. Cerecor Inc has a 52 week low of $2.71 and a 52 week high of $7.65. The company has a quick ratio of 0.91, a current ratio of 0.95 and a debt-to-equity ratio of 0.62.

Cerecor (NASDAQ:CERC) last posted its earnings results on Thursday, May 9th. The company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.03. Cerecor had a negative return on equity of 120.67% and a negative net margin of 226.50%. The firm had revenue of $5.41 million for the quarter, compared to analysts’ expectations of $4.85 million. As a group, equities research analysts forecast that Cerecor Inc will post -0.67 earnings per share for the current year.

In other news, major shareholder Armistice Capital Master Fund acquired 374,486 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were bought at an average cost of $5.50 per share, for a total transaction of $2,059,673.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Armistice Capital, Llc acquired 125,486 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was purchased at an average price of $5.50 per share, for a total transaction of $690,173.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 618,825 shares of company stock worth $3,377,503. 80.20% of the stock is currently owned by insiders.

A number of equities research analysts have recently commented on CERC shares. TheStreet upgraded Cerecor from a “d” rating to a “c-” rating in a research report on Wednesday, January 30th. ValuEngine cut Cerecor from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 8th. BidaskClub upgraded Cerecor from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 1st. HC Wainwright started coverage on Cerecor in a research report on Monday, April 1st. They set a “buy” rating and a $11.00 target price on the stock. Finally, Maxim Group started coverage on Cerecor in a research report on Tuesday, April 9th. They set a “buy” rating and a $10.00 target price on the stock. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Cerecor currently has a consensus rating of “Buy” and an average price target of $9.67.

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Cerecor Company Profile

Cerecor Inc, a pharmaceutical company, focuses on pediatric health care. Its lead product portfolio includes prescribed dietary supplements, such as Poly-Vi-Flor and Tri-Vi-Flor; and prescription drugs, such as Millipre, Ulesfia, Karbinal ER, AcipHex Sprinkle, and Cefaclor for oral suspension, as well as Flexichamber a medical device.

Read More: Exchange-Traded Funds (ETFs)

Want to see what other hedge funds are holding CERC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cerecor Inc (NASDAQ:CERC).

Institutional Ownership by Quarter for Cerecor (NASDAQ:CERC)

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