Zacks Research Downgrades Curis (NASDAQ:CRIS) to Strong Sell

Curis (NASDAQ:CRIS) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on CRIS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Curis in a report on Friday, July 17th. Wall Street Zen cut Curis to a “strong sell” rating in a research note on Saturday, August 8th. Finally, HC Wainwright restated a “buy” rating and set a $43.00 price target (up from $17.00) on shares of Curis in a research report on Friday, July 24th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $43.00.

Curis Trading Down 27.7%

CRIS stock opened at $1.67 on Tuesday. The company’s 50 day moving average is $6.15 and its 200 day moving average is $11.93. The stock has a market cap of $3.49 million, a price-to-earnings ratio of -0.07 and a beta of 3.13. Curis has a 1-year low of $1.63 and a 1-year high of $39.00.

Curis (NASDAQ:CRIS) last announced its earnings results on Tuesday, May 12th. The biotechnology company reported ($25.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($6.53) by ($18.47). As a group, sell-side analysts forecast that Curis will post -33.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Curis

A number of hedge funds have recently made changes to their positions in CRIS. XTX Topco Ltd bought a new position in shares of Curis during the 4th quarter valued at $26,000. Squarepoint Ops LLC raised its position in Curis by 46.2% in the 4th quarter. Squarepoint Ops LLC now owns 86,483 shares of the biotechnology company’s stock worth $85,000 after purchasing an additional 27,343 shares during the period. Renaissance Technologies LLC lifted its stake 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. Northwestern Mutual Wealth Management Co. boosted its position in Curis by 2,883,237.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 230,667 shares of the biotechnology company’s stock valued at $228,000 after buying an additional 230,659 shares during the period. Finally, Armistice Capital LLC boosted its position in Curis by 8.7% during the third quarter. Armistice Capital LLC now owns 978,190 shares of the biotechnology company’s stock valued at $1,624,000 after buying an additional 78,265 shares during the period. 29.97% of the stock is currently 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.