Curis Inc. (NASDAQ:CRIS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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. “
A number of other analysts also recently weighed in on the company. FBR & Co restated a “buy” rating on shares of Curis in a research report on Thursday, September 8th. Robert W. Baird reaffirmed an “outperform” rating and issued a $7.00 price target on shares of Curis in a research note on Wednesday, September 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $4.56.
Shares of Curis (NASDAQ:CRIS) opened at 3.00 on Tuesday. The company has a 50-day moving average price of $2.06 and a 200-day moving average price of $1.81. The stock’s market capitalization is $388.42 million. Curis has a 52-week low of $1.25 and a 52-week high of $3.18.
Curis (NASDAQ:CRIS) last released its earnings results on Thursday, August 4th. The company reported ($0.09) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.09). The company earned $1.70 million during the quarter, compared to the consensus estimate 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 previous year, the company posted ($0.06) EPS. On average, equities analysts anticipate that Curis will post ($0.38) earnings per share for the current year.
In related news, major shareholder Discovery Technologie Aurigene purchased 10,208,333 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were acquired at an average cost of $2.40 per share, with a total value of $24,499,999.20. Following the purchase, the insider now directly owns 27,328,464 shares of the company’s stock, valued at $65,588,313.60. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.09% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC boosted its position in shares of Curis by 1.3% in the second quarter. ProShare Advisors LLC now owns 109,812 shares of the company’s stock worth $171,000 after buying an additional 1,418 shares during the period. Rhumbline Advisers boosted its position in Curis by 27.2% in the second quarter. Rhumbline Advisers now owns 138,986 shares of the company’s stock valued at $217,000 after buying an additional 29,751 shares during the period. Teachers Advisors Inc. boosted its position in Curis by 11.5% in the second quarter. Teachers Advisors Inc. now owns 180,776 shares of the company’s stock valued at $282,000 after buying an additional 18,634 shares during the period. TFS Capital LLC boosted its position in Curis by 92.4% in the second quarter. TFS Capital LLC now owns 425,243 shares of the company’s stock valued at $663,000 after buying an additional 204,278 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Curis during the second quarter valued at about $310,000. 52.36% of the stock is currently owned by institutional investors and hedge funds.
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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