HC Wainwright Has Lowered Expectations for Curis (NASDAQ:CRIS) Stock Price

Curis (NASDAQ:CRIS) had its price target decreased by equities research analysts at HC Wainwright from $26.00 to $20.00 in a report issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price indicates a potential upside of 378.47% from the stock’s previous close.

Curis Stock Performance

CRIS opened at $4.18 on Friday. The company’s 50 day simple moving average is $5.28 and its 200 day simple moving average is $7.81. Curis has a 1 year low of $4.05 and a 1 year high of $17.49. The stock has a market capitalization of $25.00 million, a PE ratio of -0.51 and a beta of 3.32.

Curis (NASDAQ:CRIS) last released its earnings results on Thursday, August 1st. The biotechnology company reported ($2.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.36). Curis had a negative return on equity of 327.92% and a negative net margin of 468.18%. The company had revenue of $2.55 million during the quarter, compared to analyst estimates of $2.20 million. During the same period in the prior year, the business posted ($2.40) earnings per share. As a group, sell-side analysts expect that Curis will post -6.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Curis by 4.8% in the first quarter. Vanguard Group Inc. now owns 218,573 shares of the biotechnology company’s stock valued at $2,376,000 after buying an additional 10,097 shares during the period. Point72 Asset Management L.P. raised its holdings in Curis by 795.5% in the second quarter. Point72 Asset Management L.P. now owns 108,356 shares of the biotechnology company’s stock valued at $748,000 after buying an additional 96,256 shares during the period. Focused Wealth Management Inc raised its holdings in Curis by 63.1% in the third quarter. Focused Wealth Management Inc now owns 54,066 shares of the biotechnology company’s stock valued at $291,000 after buying an additional 20,908 shares during the period. Finally, CM Management LLC raised its holdings in Curis by 380.0% in the first quarter. CM Management LLC now owns 120,000 shares of the biotechnology company’s stock valued at $1,304,000 after buying an additional 95,000 shares during the period. Hedge funds and other institutional investors own 29.97% of the company’s stock.

About Curis

Curis, Inc, a biotechnology company, engages in the discovery and development of drug candidates for the treatment of human cancers in the United States. Its clinical stage drug candidates include Emavusertib, an oral small molecule IRAK4 kinase inhibitor, which is in a Phase 1/2 open-label, single arm expansion trial in patients with relapsed or refractory, or R/R, AML and high-risk myelodysplastic syndromes.