Shares of Cerecor (CERC) stock jumped 48% in early pre-market trading Friday, rising as high as $6.67 after the company announced it received a U.S. patent for CERC-301. Cerecor is a bio-pharmaceutical company largely focused on treatments of rare pediatric and neurology diseases.
Cerecor stock is currently trading at $5.25 as of 9:52 AM on Friday, Feb 15, a gain 16.58% from the previous closing price of $4.50.
CERC stock has traded between $5.06 and $5.40 so far today. Volume today is above average. So far 167,744 shares have traded compared to average volume of 80,702 shares.
CERC-301 is an oral treatment in development for treating neurogenic orthostatic hypotension, a rare disorder creating low blood pressure upon standing, in people with neurodegenerative diseases such as Parkinson’s Disease.
The patent, along with its foreign counterpart applications, are co-owned with Merck & Co. (MRK).
Stock Score Report, InvestorsObserver’s proprietary scoring system gives CERC stock a score of 80 out of a possible 100. That score is based on three component scores. A fundamental score of 71, a long-term technical score of 79 and a short-term technical score of 90.
CERC stock scores highly in all categories, signaling strength in the stock. Cerecor stock holds an analyst average recommendation of Strong Buy, with a median target price of $8.00, which is 53.5% higher than the stocks current trading price.
Our proprietary system combines short and long-term technical factors, Wall Street’s opinion, and other fundamental factors into an overall score that measures a stock’s suitability for investment.
Meanwhile, the major indices are rallying. The S&P 500 is up 0.71% to 2,765.28. The Dow Jones Industrial Average is up 0.67% to 25,715.14. The NASDAQ has gained 0.3% to 7,449.10.