Zacks Investment Research upgraded shares of Cerus (NASDAQ:CERS) from a sell rating to a hold rating in a research report released on Wednesday.
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. “
Several other equities research analysts have also weighed in on CERS. BTIG Research reiterated a hold rating on shares of Cerus in a report on Saturday, March 10th. BidaskClub upgraded shares of Cerus from a hold rating to a buy rating in a report on Tuesday, March 6th. Cantor Fitzgerald set a $5.00 target price on shares of Cerus and gave the stock a buy rating in a report on Monday, January 8th. ValuEngine upgraded shares of Cerus from a strong sell rating to a sell rating in a report on Thursday, January 4th. 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. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $5.00.
Cerus (NASDAQ:CERS) opened at $5.74 on Wednesday. Cerus has a twelve month low of $1.93 and a twelve month high of $5.77. The firm has a market cap of $679.09, a P/E ratio of -10.25 and a beta of 2.16. The company has a quick ratio of 3.26, a current ratio of 3.89 and a debt-to-equity ratio of 0.77.
Cerus (NASDAQ:CERS) last announced its quarterly earnings data on Thursday, March 8th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. The business had revenue of $16.20 million for the quarter, compared to analyst estimates of $17.53 million. Cerus had a negative net margin of 139.06% and a negative return on equity of 154.46%. Cerus’s revenue was up 60.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.13) earnings per share. equities analysts predict that Cerus will post -0.43 EPS for the current fiscal year.
In related news, insider Laurence M. Corash acquired 150,011 shares of the stock in a transaction dated Thursday, March 15th. The stock was bought at an average price of $5.15 per share, with a total value of $772,556.65. Following the completion of the transaction, the insider now directly owns 1,462,580 shares of the company’s stock, valued at $7,532,287. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Mariner Greenman sold 7,735 shares of the stock in a transaction on Monday, March 12th. The stock was sold at an average price of $4.80, for a total transaction of $37,128.00. The disclosure for this sale can be found here. Insiders have sold 14,381 shares of company stock valued at $69,685 in the last three months. 7.40% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. BB&T Securities LLC bought a new stake in shares of Cerus during the third quarter worth $100,000. Teacher Retirement System of Texas bought a new stake in shares of Cerus during the fourth quarter worth $126,000. Voya Investment Management LLC grew its position in Cerus by 22.0% in the second quarter. Voya Investment Management LLC now owns 58,633 shares of the biotechnology company’s stock valued at $147,000 after purchasing an additional 10,570 shares in the last quarter. Turner Investments LLC bought a new position in Cerus in the third quarter valued at $177,000. Finally, MetLife Investment Advisors LLC bought a new position in Cerus in the fourth quarter valued at $197,000. 56.27% of the stock is owned by institutional investors.
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Cerus Company Profile
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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