Shares of Curis, Inc. (NASDAQ:CRIS) traded up 9.3% during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $0.75 and last traded at $0.82. 4,683,977 shares changed hands during trading, an increase of 148% from the average session volume of 1,889,880 shares. The stock had previously closed at $0.75.
The biotechnology company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.04. Curis had a negative net margin of 538.66% and a negative return on equity of 261.66%. The company had revenue of $3.26 million for the quarter, compared to analyst estimates of $2.03 million. During the same quarter last year, the business earned ($0.08) earnings per share.
Separately, Zacks Investment Research upgraded shares of Curis from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.50.
The stock has a market cap of $151.67, a P/E ratio of -2.31 and a beta of 1.68. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 1.24.
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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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