Curis (CRIS) Downgraded by Zacks Investment Research

Curis (NASDAQ:CRIS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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 equities analysts also recently weighed in on CRIS. ValuEngine downgraded shares of Curis from a “hold” rating to a “sell” rating in a research note on Friday, September 15th. Guggenheim initiated coverage on shares of Curis in a research report on Monday, October 23rd. They set a “buy” rating and a $7.00 price target for the company. Three analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $6.50.

Shares of Curis (NASDAQ:CRIS) traded up $0.01 during midday trading on Tuesday, hitting $0.69. 1,885,200 shares of the company’s stock were exchanged, compared to its average volume of 1,378,457. Curis has a one year low of $0.67 and a one year high of $3.22. The company has a market capitalization of $113.08, a P/E ratio of -1.77 and a beta of 1.63. The company has a debt-to-equity ratio of 1.24, a quick ratio of 5.15 and a current ratio of 5.15.

Curis (NASDAQ:CRIS) last announced its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.02). Curis had a negative return on equity of 250.58% and a negative net margin of 629.29%. The company had revenue of $2.44 million during the quarter, compared to the consensus estimate of $2.19 million. During the same period in the prior year, the firm posted ($0.21) earnings per share. The company’s revenue was up 38.6% on a year-over-year basis. research analysts expect that Curis will post -0.41 earnings per share for the current year.

In other Curis news, CEO Ali Ph.D. Fattaey purchased 50,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was bought at an average price of $1.06 per share, for a total transaction of $53,000.00. Following the transaction, the chief executive officer now directly owns 115,890 shares in the company, valued at $122,843.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.07% of the stock is owned by insiders.

Several large investors have recently modified their holdings of CRIS. First Eagle Investment Management LLC grew its position in shares of Curis by 10.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 26,508,672 shares of the biotechnology company’s stock worth $39,498,000 after buying an additional 2,500,000 shares during the period. JPMorgan Chase & Co. grew its holdings in Curis by 62,201.8% during the third quarter. JPMorgan Chase & Co. now owns 2,381,798 shares of the biotechnology company’s stock valued at $3,691,000 after purchasing an additional 2,377,975 shares during the period. State Street Corp grew its holdings in Curis by 10.4% during the second quarter. State Street Corp now owns 1,857,044 shares of the biotechnology company’s stock valued at $3,511,000 after purchasing an additional 175,424 shares during the period. Vanguard Group Inc. grew its holdings in Curis by 2.6% during the second quarter. Vanguard Group Inc. now owns 4,955,068 shares of the biotechnology company’s stock valued at $9,365,000 after purchasing an additional 127,443 shares during the period. Finally, State of Wisconsin Investment Board acquired a new position in Curis during the second quarter valued at approximately $163,000. Institutional investors own 55.22% of the company’s stock.

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About Curis

Curis, Inc is a biotechnology company seeking to develop and commercialize drug candidates for the treatment of cancers. The Company’s drug candidate is CUDC-907, an orally-available, small molecule inhibitor of histone deacetylase (HDAC) and phosphatidylinositol-3-kinase (PI3K) enzymes. CUDC-907 is an oral, dual inhibitor of Class I and II HDAC, as well as Class I PI3K enzymes.

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