Zacks Investment Research lowered shares of Cerus (NASDAQ:CERS) from a buy rating to a hold rating in a report published on Tuesday.
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. “
CERS has been the subject of a number of other research reports. Cantor Fitzgerald reissued a buy rating and issued a $5.00 price target on shares of Cerus in a report on Tuesday, January 23rd. BTIG Research reissued a hold rating on shares of Cerus in a report on Thursday, January 25th. BidaskClub cut shares of Cerus from a hold rating to a sell rating in a research note on Tuesday, December 12th. Finally, ValuEngine raised shares of Cerus from a sell rating to a hold rating in a research note on Wednesday, March 14th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Cerus presently has an average rating of Buy and a consensus price target of $5.40.
Shares of Cerus stock opened at $5.20 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.89 and a quick ratio of 3.26. Cerus has a fifty-two week low of $1.93 and a fifty-two week high of $5.85.
Cerus (NASDAQ:CERS) last issued its quarterly earnings results on Thursday, March 8th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The business had revenue of $16.20 million during 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 for the quarter was up 60.4% compared to the same quarter last year. During the same quarter last 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 other Cerus news, CEO William Mariner Greenman sold 7,735 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $4.80, for a total value of $37,128.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Laurence M. Corash acquired 150,011 shares of Cerus stock in a transaction on Thursday, March 15th. The stock was acquired at an average cost of $5.15 per share, for a total transaction of $772,556.65. Following the completion of the purchase, the insider now owns 1,462,580 shares of the company’s stock, valued at approximately $7,532,287. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 14,381 shares of company stock worth $69,685. Insiders own 7.40% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in CERS. The Manufacturers Life Insurance Company boosted its position in shares of Cerus by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 87,994 shares of the biotechnology company’s stock worth $221,000 after purchasing an additional 4,688 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Cerus by 6.0% during the third quarter. Schwab Charles Investment Management Inc. now owns 401,735 shares of the biotechnology company’s stock worth $1,097,000 after purchasing an additional 22,753 shares in the last quarter. BB&T Securities LLC bought a new position in shares of Cerus during the third quarter worth $100,000. Premier Asset Management LLC bought a new position in shares of Cerus during the third quarter worth $348,000. Finally, Peregrine Capital Management LLC boosted its position in shares of Cerus by 0.9% during the fourth quarter. Peregrine Capital Management LLC now owns 2,840,504 shares of the biotechnology company’s stock worth $9,601,000 after purchasing an additional 24,513 shares in the last quarter. 51.95% of the stock is currently owned by institutional investors.
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Cerus Corporation, a biomedical products company, focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System is based on its proprietary technology for controlling biological replication; and targets and inactivates blood-borne pathogens, such as viruses, bacteria, and parasites, as well as harmful white blood cells, while preserving the therapeutic properties of platelet, plasma, and red blood cell transfusion products.
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