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Cerecor

DB:C6K
Snowflake Description

High growth potential with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
C6K
DB
$215M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Cerecor Inc., a pharmaceutical company, focuses on pediatric health care. The last earnings update was 14 days ago. More info.


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  • Cerecor has significant price volatility in the past 3 months.
C6K Share Price and Events
7 Day Returns
-7.4%
DB:C6K
-0.5%
DE Pharmaceuticals
-0.6%
DE Market
1 Year Returns
36.7%
DB:C6K
-28.9%
DE Pharmaceuticals
-10.8%
DE Market
C6K Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cerecor (C6K) -7.4% -11.8% -2% 36.7% - -
DE Pharmaceuticals -0.5% -5.8% -10.8% -28.9% -20.5% 6.3%
DE Market -0.6% -3.3% 2.3% -10.8% 8% 8%
1 Year Return vs Industry and Market
  • C6K outperformed the Pharmaceuticals industry which returned -28.9% over the past year.
  • C6K outperformed the Market in Germany which returned -10.8% over the past year.
Price Volatility
C6K
Industry
5yr Volatility vs Market

Value

 Is Cerecor undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Cerecor to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Cerecor.

DB:C6K Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.1%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:C6K
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Pharmaceuticals Unlevered Beta Simply Wall St/ S&P Global 0.7
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.695 (1 + (1- 21%) (7.68%))
0.824
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.82
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.824 * 5.96%)
5.14%

Discounted Cash Flow Calculation for DB:C6K using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Cerecor is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:C6K DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5.14%)
2019 -14.49 Analyst x1 -13.78
2020 -13.16 Analyst x1 -11.91
2021 -11.67 Analyst x1 -10.04
2022 -5.12 Analyst x1 -4.19
2023 1.27 Analyst x1 0.98
2024 1.83 Est @ 44.8% 1.36
2025 2.41 Est @ 31.43% 1.70
2026 2.94 Est @ 22.07% 1.97
2027 3.39 Est @ 15.52% 2.16
2028 3.77 Est @ 10.93% 2.28
Present value of next 10 years cash flows $-29.47
DB:C6K DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $3.77 × (1 + 0.23%) ÷ (5.14% – 0.23%)
$76.84
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $76.84 ÷ (1 + 5.14%)10
$46.55
DB:C6K Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $-29.47 + $46.55
$17.08
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $17.08 / 42.75
$0.4
DB:C6K Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:C6K represents 0.88671x of NasdaqCM:CERC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.88671x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 0.40 x 0.88671
€0.35
Value per share (EUR) From above. €0.35
Current discount Discount to share price of €4.47
= -1 x (€4.47 - €0.35) / €0.35
-1161.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Cerecor is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Cerecor's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cerecor's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:C6K PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-1.16
NasdaqCM:CERC Share Price ** NasdaqCM (2019-05-23) in USD $5.04
Germany Pharmaceuticals Industry PE Ratio Median Figure of 6 Publicly-Listed Pharmaceuticals Companies 27.53x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 20.28x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Cerecor.

DB:C6K PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqCM:CERC Share Price ÷ EPS (both in USD)

= 5.04 ÷ -1.16

-4.33x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cerecor is loss making, we can't compare its value to the DE Pharmaceuticals industry average.
  • Cerecor is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Cerecor's expected growth come at a high price?
Raw Data
DB:C6K PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -4.33x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
52%per year
Europe Pharmaceuticals Industry PEG Ratio Median Figure of 35 Publicly-Listed Pharmaceuticals Companies 1.85x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.51x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Cerecor, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Cerecor's assets?
Raw Data
DB:C6K PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $0.54
NasdaqCM:CERC Share Price * NasdaqCM (2019-05-23) in USD $5.04
Germany Pharmaceuticals Industry PB Ratio Median Figure of 9 Publicly-Listed Pharmaceuticals Companies 2.26x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.78x
DB:C6K PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqCM:CERC Share Price ÷ Book Value per Share (both in USD)

= 5.04 ÷ 0.54

9.32x

* Primary Listing of Cerecor.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cerecor is overvalued based on assets compared to the DE Pharmaceuticals industry average.
X
Value checks
We assess Cerecor's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Pharmaceuticals industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Pharmaceuticals industry average (and greater than 0)? (1 check)
  5. Cerecor has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Cerecor expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
52%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cerecor expected to grow at an attractive rate?
  • Cerecor's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Cerecor's earnings growth is expected to exceed the Germany market average.
  • Cerecor's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:C6K Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:C6K Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 52%
DB:C6K Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 32.8%
Germany Pharmaceuticals Industry Earnings Growth Rate Market Cap Weighted Average 17.8%
Germany Pharmaceuticals Industry Revenue Growth Rate Market Cap Weighted Average 3.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.2%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:C6K Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:C6K Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 81 13 3
2022-12-31 88 34 3
2021-12-31 106 57 4
2020-12-31 24 -32 -37 4
2019-12-31 22 -24 -32 3
DB:C6K Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 19 -6 -43
2018-12-31 18 -3 -42
2018-09-30 16 -4 -42
2018-06-30 37 16 2
2018-03-31 32 15 6
2017-12-31 28 13 8
2017-09-30 26 11 13
2017-06-30 1 -11 -12
2017-03-31 2 -13 -13
2016-12-31 1 -15 -16
2016-09-30 1 -14 -18
2016-06-30 1 -13 -13

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Cerecor's earnings are expected to grow significantly at over 20% yearly.
  • Cerecor's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:C6K Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Cerecor Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:C6K Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.11 0.48 -0.26 2.00
2022-12-31 0.35 1.04 -0.34 2.00
2021-12-31 0.55 2.73 -0.65 3.00
2020-12-31 -0.70 -0.63 -0.83 3.00
2019-12-31 -0.67 -0.62 -0.70 3.00
DB:C6K Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -1.16
2018-12-31 -1.20
2018-09-30 -1.31
2018-06-30 0.06
2018-03-31 0.25
2017-12-31 0.42
2017-09-30 0.98
2017-06-30 -1.12
2017-03-31 -1.44
2016-12-31 -1.87
2016-09-30 -2.24
2016-06-30 -2.09

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Cerecor will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Cerecor's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Cerecor has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Cerecor performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Cerecor's growth in the last year to its industry (Pharmaceuticals).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Cerecor does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Cerecor's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Cerecor's 1-year growth to the DE Pharmaceuticals industry average as it is not currently profitable.
Earnings and Revenue History
Cerecor's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Cerecor Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:C6K Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 19.26 -43.37 20.00 2.00
2018-12-31 18.33 -41.71 18.21 1.82
2018-09-30 15.58 -41.68 16.55 1.88
2018-06-30 36.54 1.64 14.51 1.85
2018-03-31 31.91 5.85 11.22 1.80
2017-12-31 27.81 7.77 8.51 1.93
2017-09-30 25.76 13.32 6.02 1.46
2017-06-30 1.04 -11.57 5.57 1.56
2017-03-31 1.54 -13.29 5.76 1.82
2016-12-31 1.15 -16.47 7.08 1.91
2016-09-30 0.97 -18.48 7.39 2.06
2016-06-30 0.65 -13.00 6.40 2.00
2016-03-31 -12.39 5.78 0.55
2015-12-31 -10.49 3.89 1.74
2015-09-30 3.17 4.07 3.50
2015-06-30 -1.98 4.98 7.42
2015-03-31 -3.13 4.76 11.21
2014-12-31 -3.52 4.88 2.74
2014-09-30 -16.61 4.40 18.90
2013-12-31 -13.13 4.02 8.91
2013-09-30 0.00 -12.58 3.70
2012-12-31 0.08 -10.49 2.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Cerecor has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Cerecor has efficiently used its assets last year compared to the DE Pharmaceuticals industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Cerecor improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Cerecor's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Pharmaceuticals industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Cerecor has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Cerecor's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Cerecor's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cerecor's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Cerecor's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Cerecor's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.6x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Cerecor Company Filings, last reported 1 month ago.

DB:C6K Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 23.12 16.54 16.12
2018-12-31 20.91 15.38 10.65
2018-09-30 19.51 15.40 6.84
2018-06-30 19.22 15.43 2.18
2018-03-31 24.58 15.38 2.52
2017-12-31 27.86 0.00 2.47
2017-09-30 22.12 0.00 23.96
2017-06-30 3.14 0.61 5.46
2017-03-31 -0.43 1.49 3.00
2016-12-31 0.21 2.35 5.13
2016-09-30 0.59 3.19 8.82
2016-06-30 5.57 4.00 11.88
2016-03-31 8.88 4.79 16.60
2015-12-31 13.08 5.56 21.16
2015-09-30 -4.51 6.32 3.31
2015-06-30 -3.84 7.05 6.14
2015-03-31 -1.17 7.26 8.60
2014-12-31 2.01 7.21 11.74
2014-09-30
2013-12-31 2.01 0.00 3.42
2013-09-30 4.88 0.00 6.34
2012-12-31 8.48 0.00 9.52
  • Cerecor's level of debt (71.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (89.4% vs 71.6% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Cerecor has sufficient cash runway for 2.4 years based on current free cash flow.
  • Cerecor has sufficient cash runway for more than 3 years if free cash flow continues to reduce at historical rates of -55.7% each year.
X
Financial health checks
We assess Cerecor's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Cerecor has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Cerecor's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Cerecor dividends.
If you bought €2,000 of Cerecor shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Cerecor's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Cerecor's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:C6K Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Germany Pharmaceuticals Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 3.2%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:C6K Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Cerecor has not reported any payouts.
  • Unable to verify if Cerecor's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Cerecor's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Cerecor has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Cerecor's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Cerecor afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cerecor has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Cerecor's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Joe Miller
COMPENSATION $846,246
AGE 44
TENURE AS CEO 0.1 years
CEO Bio

Mr. Joseph M. Miller, also known as Joe, CPA, is Chief Financial Officer of Cerecor Inc. since July 16, 2018 and its Principal Executive Officer. He has over 20 years of experience and a wealth of financial knowledge as a senior executive with extensive hands-on experience in managing financial operations and supporting enterprise growth across the health sciences, bio-tech and pharmaceutical sectors. In his previous role at Sucampo Pharmaceuticals, he was responsible for building out of the finance organization to effectively support the company’s rapid growth, ultimately resulting in the $1.2B merger with Mallinckrodt in early 2018. Prior to Sucampo, he served in various progressive finance and management roles at Qiagen, Eppendorf and KPMG LLP. Mr. Miller’s strengths include leading and building out company finance infrastructure and creating scalable, world-class organizations, making him an excellent fit into the strategic imperatives of growth and innovation at the new Cerecor. Mr. Miller holds a B.S. degree in accounting from Villanova University and is a Certified Public Accountant.

CEO Compensation
  • Insufficient data for Joe to compare compensation growth.
  • Joe's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Cerecor management team in years:

0.8
Average Tenure
50
Average Age
  • The average tenure for the Cerecor management team is less than 2 years, this suggests a new team.
Management Team

Simon Pedder

TITLE
Executive Chairman
COMPENSATION
$28K
AGE
57

Joe Miller

TITLE
Chief Financial Officer
COMPENSATION
$846K
AGE
44
TENURE
0.1 yrs

Jamie Harrell

TITLE
Executive Vice President of Marketing & External Communications
COMPENSATION
$730K
AGE
48
TENURE
1 yrs

Mariam Morris

TITLE
Consultant
COMPENSATION
$687K
AGE
50
TENURE
0.8 yrs

Solomon Snyder

TITLE
Founder and Chairman of Scientific Advisory Board
AGE
79

Barbara Slusher

TITLE
Founder and Member of Scientific Advisory Board
AGE
53

Perry Calias

TITLE
Chief Scientific Officer and Head of R&D
AGE
50
TENURE
0.8 yrs

Matthew Phillips

TITLE
Chief Commercial Officer
AGE
50

Patrick Crutcher

TITLE
Chief Strategy Officer
AGE
33
TENURE
0.3 yrs

Stephen Thomas

TITLE
VP & Head of Discovery
TENURE
0.7 yrs
Board of Directors Tenure

Average tenure and age of the Cerecor board of directors in years:

4
Average Tenure
58
Average Age
  • The tenure for the Cerecor board of directors is about average.
Board of Directors

Simon Pedder

TITLE
Executive Chairman
COMPENSATION
$28K
AGE
57
TENURE
0.1 yrs

Solomon Snyder

TITLE
Founder and Chairman of Scientific Advisory Board
AGE
79

Barbara Slusher

TITLE
Founder and Member of Scientific Advisory Board
AGE
53

Gunnar Magnus Severus Persson

TITLE
Independent Director
COMPENSATION
$49K
AGE
58
TENURE
7.1 yrs

Phil Gutry

TITLE
Independent Director
COMPENSATION
$54K
AGE
45
TENURE
4.1 yrs

Ron Borchardt

TITLE
Member of Scientific Advisory Board

Dennis Liotta

TITLE
Member of Scientific Advisory Board
AGE
70

Anne Young

TITLE
Member of Scientific Advisory Board

Uli Hacksell

TITLE
Director
COMPENSATION
$15K
AGE
68
TENURE
4 yrs

Bob Lenox

TITLE
Member of Scientific Advisory Board
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Cerecor insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
16. May 19 Buy Simon Pedder Individual 14. May 19 14. May 19 6,000 €4.51 €27,066
14. May 19 Buy Armistice Capital LLC Company 10. May 19 14. May 19 20,000 €4.70 €88,606
27. Mar 19 Buy Armistice Capital LLC Company 25. Mar 19 27. Mar 19 50,000 €4.91 €242,881
08. Mar 19 Buy Armistice Capital LLC Company 06. Mar 19 08. Mar 19 374,486 €4.90 €1,831,554
11. Jan 19 Buy Armistice Capital LLC Company 09. Jan 19 11. Jan 19 13,996 €3.42 €47,364
08. Jan 19 Buy Armistice Capital LLC Company 04. Jan 19 08. Jan 19 27,004 €3.23 €82,062
31. Dec 18 Buy Armistice Capital LLC Company 28. Dec 18 31. Dec 18 38,799 €2.78 €106,343
18. Dec 18 Buy Armistice Capital LLC Company 14. Dec 18 18. Dec 18 50,000 €2.93 €145,526
11. Dec 18 Buy James Harrell Individual 10. Dec 18 10. Dec 18 4,156 €2.50 €10,411
11. Dec 18 Buy Matthew Phillips Individual 10. Dec 18 10. Dec 18 497 €2.50 €1,245
10. Dec 18 Buy Armistice Capital LLC Company 06. Dec 18 10. Dec 18 36,400 €3.04 €109,211
04. Dec 18 Buy Armistice Capital LLC Company 30. Nov 18 04. Dec 18 25,797 €3.09 €79,398
29. Nov 18 Buy Armistice Capital LLC Company 27. Nov 18 29. Nov 18 77,803 €3.10 €239,793
26. Nov 18 Buy Armistice Capital LLC Company 21. Nov 18 26. Nov 18 50,000 €3.21 €158,201
20. Nov 18 Buy Armistice Capital LLC Company 19. Nov 18 19. Nov 18 10,813 €3.07 €33,183
20. Nov 18 Buy Armistice Capital LLC Company 16. Nov 18 20. Nov 18 38,287 €3.26 €122,224
15. Nov 18 Buy Armistice Capital LLC Company 13. Nov 18 15. Nov 18 31,314 €3.45 €106,579
01. Nov 18 Buy Armistice Capital LLC Company 30. Oct 18 31. Oct 18 5,986 €3.51 €20,746
29. Oct 18 Buy Armistice Capital LLC Company 25. Oct 18 29. Oct 18 107,800 €3.51 €373,813
25. Oct 18 Buy Armistice Capital LLC Company 22. Oct 18 24. Oct 18 125,800 €3.79 €455,531
09. Oct 18 Buy Armistice Capital LLC Company 04. Oct 18 09. Oct 18 29,600 €3.85 €111,879
27. Sep 18 Buy Armistice Capital LLC Company 25. Sep 18 27. Sep 18 20,400 €4.03 €81,078
20. Aug 18 Buy Armistice Capital LLC Company 17. Aug 18 17. Aug 18 1,000,000 €3.43 €3,425,942
01. Aug 18 Buy Armistice Capital LLC Company 30. Jul 18 31. Jul 18 2,855 €3.64 €10,369
27. Jul 18 Buy Armistice Capital LLC Company 25. Jul 18 27. Jul 18 28,926 €3.85 €109,486
18. Jul 18 Buy Armistice Capital LLC Company 16. Jul 18 18. Jul 18 30,019 €3.73 €110,287
02. Jul 18 Buy Armistice Capital LLC Company 28. Jun 18 02. Jul 18 18,200 €3.69 €64,449
X
Management checks
We assess Cerecor's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Cerecor has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Cerecor Inc., a pharmaceutical company, focuses on pediatric health care. Its lead product portfolio includes prescribed dietary supplements, such as Poly-Vi-Flor and Tri-Vi-Flor; and prescription drugs, such as Millipre, Ulesfia, Karbinal ER, AcipHex Sprinkle, and Cefaclor for oral suspension, as well as Flexichamber a medical device. The company is developing CERC-301, an orphan neurological indication for controlling neurologic adaptation; CERC-406 for the treatment of Parkinson’s disease; CERC-425, an orally active small molecule; CERC-611, a drug candidate for the treatment of partial-onset seizures in epilepsy; and CERC-913, a protide nucleotide for the treatment of mitochondrial disorder. It also developing preclinical therapies CERC-801, CERC-802, and CERC-803 for the treatment of inherited metabolic disorders. The company was formerly known as Ceregen Corporation and changed its name to Cerecor Inc. in March 2011. Cerecor Inc. was founded in 2011 and is headquartered in Rockville, Maryland.

Details
Name: Cerecor Inc.
C6K
Exchange: DB
Founded: 2011
$192,960,944
42,753,659
Website: http://www.cerecor.com
Address: Cerecor Inc.
540 Gaither Road,
Suite 400,
Rockville,
Maryland, 20850,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqCM CERC Common Stock Nasdaq Capital Market US USD 13. Nov 2015
DB C6K Common Stock Deutsche Boerse AG DE EUR 13. Nov 2015
Number of employees
Current staff
Staff numbers
64
Cerecor employees.
Industry
Pharmaceuticals
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 22:50
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2019/05/13
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.