Zacks Investment Research upgraded shares of Cerus (NASDAQ:CERS) from a sell rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.
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 equities research analysts have also commented on the stock. BidaskClub lowered shares of Cerus from a buy rating to a hold rating in a report on Friday, August 9th. ValuEngine raised shares of Cerus from a hold rating to a buy rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Cerus currently has an average rating of Buy and a consensus target price of $7.83.
CERS opened at $5.28 on Tuesday. The firm’s 50-day simple moving average is $5.47 and its 200-day simple moving average is $5.73. The company has a quick ratio of 2.33, a current ratio of 2.67 and a debt-to-equity ratio of 0.88. Cerus has a twelve month low of $4.49 and a twelve month high of $7.81.
Cerus (NASDAQ:CERS) last posted its earnings results on Thursday, August 1st. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.01). Cerus had a negative return on equity of 85.73% and a negative net margin of 98.69%. The firm had revenue of $18.20 million during the quarter, compared to the consensus estimate of $17.55 million. During the same period in the previous year, the company posted ($0.10) EPS. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. Equities analysts expect that Cerus will post -0.49 earnings per share for the current fiscal year.
In other Cerus news, Director Timothy B. Anderson sold 18,795 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $5.40, for a total transaction of $101,493.00. Following the sale, the director now owns 177,649 shares of the company’s stock, valued at approximately $959,304.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy B. Anderson sold 9,664 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $5.25, for a total transaction of $50,736.00. Following the sale, the director now directly owns 177,649 shares in the company, valued at approximately $932,657.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,903 shares of company stock worth $234,613. Insiders own 7.26% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Virtu Financial LLC grew its holdings in Cerus by 16.6% during the 1st quarter. Virtu Financial LLC now owns 12,639 shares of the biotechnology company’s stock worth $79,000 after acquiring an additional 1,798 shares during the last quarter. Budros Ruhlin & Roe Inc. grew its holdings in Cerus by 16.9% during the 1st quarter. Budros Ruhlin & Roe Inc. now owns 20,713 shares of the biotechnology company’s stock worth $129,000 after acquiring an additional 3,000 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Cerus by 23.9% in the 1st quarter. SG Americas Securities LLC now owns 16,317 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 3,151 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Cerus by 19.3% in the 4th quarter. Legal & General Group Plc now owns 26,148 shares of the biotechnology company’s stock valued at $133,000 after purchasing an additional 4,222 shares during the last quarter. Finally, Aperio Group LLC bought a new position in shares of Cerus in the 2nd quarter valued at about $27,000. 72.83% of the stock is currently owned by hedge funds and other institutional investors.
Cerus Company Profile
Cerus Corporation, a biomedical products company, focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System, a proprietary technology for controlling biological replication that is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.
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