Cerus (NASDAQ:CERS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, January 3rd.
According to Zacks, “Cerus Corporation is developing medical products based on a platform technology that prevents nucleic acid replication. The company’s initial application of this technology is the development of systems to inactivate viruses, bacteria and other pathogens in blood components used for transfusion. The company is also focusing research and development efforts on other potential health care applications for this platform technology, including pathogen inactivation of source plasma used for fractionation, improving the outcomes of stem cell transplantation. “
A number of other analysts also recently issued reports on CERS. BidaskClub downgraded shares of Cerus from a “sell” rating to a “strong sell” rating in a report on Friday, December 29th. BTIG Research restated a “neutral” rating on shares of Cerus in a report on Friday, December 8th. Cowen set a $6.00 target price on shares of Cerus and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $5.00 target price on shares of Cerus in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Cerus currently has an average rating of “Hold” and an average price target of $5.83.
Cerus (CERS) opened at $4.32 on Wednesday. The firm has a market cap of $504.97, a P/E ratio of -7.32 and a beta of 1.93. The company has a quick ratio of 3.11, a current ratio of 3.71 and a debt-to-equity ratio of 0.80. Cerus has a 12 month low of $1.93 and a 12 month high of $4.70.
Cerus (NASDAQ:CERS) last announced its quarterly earnings results on Thursday, November 2nd. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.03. The business had revenue of $10.80 million during the quarter, compared to the consensus estimate of $11.95 million. Cerus had a negative net margin of 159.35% and a negative return on equity of 142.18%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) EPS. sell-side analysts predict that Cerus will post -0.57 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its holdings in Cerus by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,994 shares of the biotechnology company’s stock valued at $221,000 after purchasing an additional 4,688 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Cerus by 8.0% in the second quarter. Goldman Sachs Group Inc. now owns 106,495 shares of the biotechnology company’s stock worth $267,000 after acquiring an additional 7,864 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Cerus by 22.0% in the second quarter. Voya Investment Management LLC now owns 58,633 shares of the biotechnology company’s stock worth $147,000 after acquiring an additional 10,570 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Cerus by 1.4% in the second quarter. Stephens Inc. AR now owns 963,702 shares of the biotechnology company’s stock worth $2,419,000 after acquiring an additional 12,973 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Cerus by 59.3% in the second quarter. UBS Asset Management Americas Inc. now owns 48,377 shares of the biotechnology company’s stock worth $121,000 after acquiring an additional 18,000 shares in the last quarter. Hedge funds and other institutional investors own 55.72% of the company’s stock.
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Cerus Corporation is a biomedical products company. The Company is engaged in developing and commercializing the INTERCEPT Blood System for blood safety. The Company operates through blood safety segment. The Company’s INTERCEPT Blood System is based on its technology for controlling biological replication, and is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.
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