The stock of Cerecor Inc (NASDAQ:CERC) gapped down by $1.95 today and has $2.03 target or 3.00% below today’s $2.09 share price. The 6 months technical chart setup indicates high risk for the $17.80 million company. The gap down was reported on Nov, 30 by Barchart.com. If the $2.03 price target is reached, the company will be worth $534,000 less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 1.41M shares traded hands or 837.91% up from the average. Cerecor Inc (NASDAQ:CERC) has risen 31.11% since April 27, 2016 and is uptrending. It has outperformed by 25.88% the S&P500.
Analysts await Cerecor Inc (NASDAQ:CERC) to report earnings on March, 22. They expect $-0.58 earnings per share, down 9.43% or $0.05 from last year’s $-0.53 per share. After $-0.70 actual earnings per share reported by Cerecor Inc for the previous quarter, Wall Street now forecasts -17.14% EPS growth.
According to Zacks Investment Research, “Cerecor, Inc. is a biopharmaceutical company which focuses on the development of drugs for the treatment of patients with neurological and psychiatric disorders. The company’s portfolio of clinical and preclinical candidates consists of CERC-301, CERC-501 and CERC-406. CERC-301; adjunctive antidepressant for the treatment of patients with major depressive disorder; CERC-501, for co-occurring psychiatric and substance use disorders and CERC-406, for the treatment of residual cognitive impairment symptoms. Cerecor, Inc. is headquartered in Baltimore, Maryland.”
More recent Cerecor Inc (NASDAQ:CERC) news were published by: Schaeffersresearch.com which released: “Analyst Update: Cerecor Inc, Pioneer Energy Services Corp, and Trinity …” on November 30, 2016. Also Marketwatch.com published the news titled: “Cerecor Inc.” on November 22, 2013. Businesswire.com‘s news article titled: “Cerecor Inc. Announces Initiation of Second CERC-501 Phase 2 Clinical Trial in …” with publication date: August 29, 2016 was also an interesting one.
CERC Company Profile
Cerecor, Inc., incorporated on January 31, 2011, is a clinical stage biopharmaceutical company. The Firm is engaged in developing drug candidates for patients with neurological and psychiatric disorders. The Firm has a portfolio of clinical and preclinical compounds that it is developing for a range of indications, including CERC-301, which is an adjunctive treatment for major depressive disorder (MDD); CERC-501, which is for substance use disorders and adjunctive treatment of MDD, and CERC-406, which is for the treatment of cognitive impairment. The Firm owns the rights to its COMTi platform. Catechol O methyltransferase (COMT) is an enzyme that is critical for the inactivation and metabolism of dopamine and its inhibition in the brain has applicability in treating subjects with neuropsychiatric conditions, including MDD, schizophrenia, Parkinson’s disease and pathological gambling. The Company’s COMTi platform comprises COMT inhibitors with selectivity for membrane bound COMT, which is the dominant form of COMT found within the central nervous system. The Company’s COMTi platform includes compounds with varying degrees of selectivity of peripheral versus brain COMT inhibition, including some that work on both peripheral and brain COMT, and some that work primarily on brain COMT.
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