Curis Inc. (NASDAQ:CRIS) – Analysts at SunTrust Banks reduced their FY2017 earnings estimates for shares of Curis in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst P. Lawson now forecasts that the brokerage will post earnings of ($0.26) per share for the year, down from their previous estimate of ($0.24). SunTrust Banks also issued estimates for Curis’ FY2019 earnings at ($0.04) EPS.
Curis (NASDAQ:CRIS) last issued its earnings results on Thursday, August 4th. The company reported ($0.09) earnings per share for the quarter, meeting the consensus estimate of ($0.09). The company earned $1.70 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted ($0.06) EPS.
Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Curis from a “sell” rating to a “hold” rating in a research report on Thursday, June 16th. FBR & Co reissued a “buy” rating on shares of Curis in a report on Thursday, September 8th. RBC Capital Markets set a $7.00 price target on Curis and gave the company a “buy” rating in a report on Wednesday. Finally, Robert W. Baird reissued an “outperform” rating and set a $7.00 price target on shares of Curis in a report on Wednesday, September 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Curis has a consensus rating of “Buy” and an average price target of $5.05.
Shares of Curis (NASDAQ:CRIS) traded down 7.88% during midday trading on Friday, reaching $2.69. The company had a trading volume of 899,555 shares. The firm’s market capitalization is $348.28 million. The stock has a 50-day moving average of $2.29 and a 200 day moving average of $1.88. Curis has a 52 week low of $1.25 and a 52 week high of $3.42.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRIS. State Street Corp raised its position in Curis by 5.4% in the first quarter. State Street Corp now owns 1,452,409 shares of the company’s stock valued at $2,341,000 after buying an additional 73,759 shares in the last quarter. Geode Capital Management LLC raised its position in Curis by 2.5% in the first quarter. Geode Capital Management LLC now owns 772,054 shares of the company’s stock valued at $1,243,000 after buying an additional 18,476 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Curis during the first quarter valued at approximately $248,000. Bank of New York Mellon Corp raised its position in Curis by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 357,246 shares of the company’s stock valued at $558,000 after buying an additional 2,501 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Curis during the second quarter valued at approximately $359,000. Institutional investors own 52.36% of the company’s stock.
In other news, major shareholder Discovery Technologie Aurigene bought 10,208,333 shares of Curis stock in a transaction dated Wednesday, September 7th. The shares were purchased at an average cost of $2.40 per share, with a total value of $24,499,999.20. Following the completion of the acquisition, the insider now owns 27,328,464 shares of the company’s stock, valued at approximately $65,588,313.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.09% of the stock is owned by insiders.
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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