Cerevel rises after Wells Fargo starts with 'overweight'

Cerevel Therapeutics Holdings

26/09/2022 14:29

** Neuroscience focused biotech firm Cerevel Therapeutics
Holdings Inc's shares  CERE.O  up ~1% at $26.4 
    ** Wells Fargo starts coverage on stock with "overweight"
rating and PT $38, says co can be potential merger target by
Pfizer  PFE.O 
    ** Co's products in mid- to late-stage of development have
"blockbuster" potential - Wells Fargo
    ** Brokerage believes data from studies of drugs emraclidine
in treating schizophrenia and darigabat in treating epilepsy
will be key in driving the stock's performance over the next 12
months
     ** 6 of 8 brokerages rate the stock "buy" or higher, 2
"hold"; their median PT is $45 - Refinitiv 
    ** Up to Friday's close, stock had fallen 19.15% YTD vs. a
~31% decline in the Nasdaq Composite Index  .IXIC 
 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))