Curis (NASDAQ:CRIS) Posts Quarterly Earnings Results, Beats Expectations By $2.93 EPS

Curis (NASDAQ:CRIS) announced its quarterly earnings results on Friday. The biotechnology company reported ($4.02) earnings per share for the quarter, beating the consensus estimate of ($6.95) by $2.93, FiscalAI reports.

Curis Price Performance

Curis stock traded down $0.07 during midday trading on Friday, reaching $1.80. 470,403 shares of the company traded hands, compared to its average volume of 266,000. The firm has a market capitalization of $3.76 million, a price-to-earnings ratio of -0.08 and a beta of 3.13. The business has a 50 day moving average of $5.84 and a two-hundred day moving average of $11.74. Curis has a 12 month low of $1.54 and a 12 month high of $39.00.

Wall Street Analyst Weigh In

CRIS has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Curis in a research note on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $43.00 price target (up from $17.00) on shares of Curis in a research note on Friday, July 24th. Wall Street Zen downgraded Curis to a “strong sell” rating in a report on Saturday, August 8th. Finally, Zacks Research cut Curis from a “hold” rating to a “strong sell” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Curis has a consensus rating of “Reduce” and a consensus target price of $43.00.

Hedge Funds Weigh In On Curis

Hedge funds and other institutional investors have recently modified their holdings of the company. Maverick Capital Ltd. boosted its stake in shares of Curis by 7.8% in the 2nd quarter. Maverick Capital Ltd. now owns 681,381 shares of the biotechnology company’s stock worth $1,472,000 after buying an additional 49,554 shares during the last quarter. Squarepoint Ops LLC increased its position in Curis by 17.9% during the third quarter. Squarepoint Ops LLC now owns 59,140 shares of the biotechnology company’s stock valued at $98,000 after acquiring an additional 8,973 shares during the last quarter. Armistice Capital LLC lifted its holdings in Curis by 8.7% in the third quarter. Armistice Capital LLC now owns 978,190 shares of the biotechnology company’s stock valued at $1,624,000 after acquiring an additional 78,265 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Curis by 2,883,237.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 230,667 shares of the biotechnology company’s stock valued at $228,000 after acquiring an additional 230,659 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Curis by 37.3% in the fourth quarter. Renaissance Technologies LLC now owns 240,917 shares of the biotechnology company’s stock worth $238,000 after purchasing an additional 65,404 shares during the last quarter. 29.97% of the stock is owned by institutional investors.

Curis Company Profile

Curis, Inc is a biotechnology company focused on the discovery, development and commercialization of targeted small molecule and antibody therapeutics for the treatment of cancer. The company’s research centers on exploiting key signaling pathways and tumor microenvironment interactions to develop compounds with the potential to address unmet medical needs. Curis’ proprietary pipeline includes multiple programs at various stages of clinical and preclinical development, reflecting its emphasis on innovative oncology drug candidates.

Among Curis’ lead assets is CA-4948, an oral inhibitor of interleukin-1 receptor–associated kinase 4 (IRAK4) partnered with Ikena Oncology, which is being evaluated in hematologic malignancies and solid tumors.