JP Morgan Maintains Neutral Rating for Cerevel Therapeutics Hldg: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
JP Morgan has maintained a Neutral rating for Cerevel Therapeutics Holdings Inc (NASDAQ:CERE) but raised its price target from $25.00 to $45.00. Cerevel's shares are currently trading at $42.50, and the new price target suggests a potential upside of 5.88%. Cerevel focuses on developing treatments for neuroscience diseases with a diversified pipeline of clinical and preclinical therapies.
December 28, 2023 | 5:00 pm
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JP Morgan maintains a Neutral rating on Cerevel Therapeutics but increases the price target from $25 to $45. Cerevel's stock is trading at $42.50, close to the new target.
The increase in price target by JP Morgan is a positive signal for investors, suggesting that the bank sees potential value in Cerevel's stock. Although the rating remains Neutral, the raised target is closer to the current trading price, which could lead to a short-term positive impact on the stock price as it aligns with the bank's expectations of growth.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100