Cerus Corp. (NASDAQ:CERS) shares shot up 3% on Tuesday . The company traded as high as $6.88 and last traded at $6.43, with a volume of 1,923,566 shares trading hands. The stock had previously closed at $6.24.

A number of brokerages recently weighed in on CERS. FBR & Co restated a “buy” rating on shares of Cerus Corp. in a report on Monday, July 11th. BTIG Research restated a “buy” rating and issued a $10.00 price objective on shares of Cerus Corp. in a report on Monday, June 20th. Robert W. Baird restated an “outperform” rating and issued a $9.00 price objective on shares of Cerus Corp. in a report on Wednesday, June 22nd. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $9.00 price objective on shares of Cerus Corp. in a report on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Cerus Corp. presently has an average rating of “Buy” and an average target price of $8.90.

The stock’s market capitalization is $669.25 million. The company has a 50-day moving average of $6.11 and a 200-day moving average of $5.81.

Cerus Corp. (NASDAQ:CERS) last released its quarterly earnings results on Tuesday, May 3rd. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. The business had revenue of $7.60 million for the quarter, compared to the consensus estimate of $8.29 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. Cerus Corp.’s revenue was down 1.3% compared to the same quarter last year. On average, equities analysts forecast that Cerus Corp. will post ($0.65) earnings per share for the current fiscal year.

Several hedge funds and institutional investors recently made changes to their positions in CERS. Wells Fargo & Company MN raised its position in shares of Cerus Corp. by 25.9% in the fourth quarter. Wells Fargo & Company MN now owns 4,901,666 shares of the company’s stock valued at $30,979,000 after buying an additional 1,007,430 shares during the last quarter. Stephens Inc. AR raised its position in shares of Cerus Corp. by 11.3% in the fourth quarter. Stephens Inc. AR now owns 1,112,665 shares of the company’s stock valued at $7,032,000 after buying an additional 113,238 shares during the last quarter. Rail Splitter Capital Management LLC raised its position in shares of Cerus Corp. by 19.0% in the fourth quarter. Rail Splitter Capital Management LLC now owns 832,722 shares of the company’s stock valued at $5,263,000 after buying an additional 132,970 shares during the last quarter. EAM Investors LLC bought a new position in shares of Cerus Corp. during the fourth quarter valued at $1,139,000. Finally, California State Teachers Retirement System raised its position in shares of Cerus Corp. by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 176,709 shares of the company’s stock valued at $1,117,000 after buying an additional 3,126 shares during the last quarter.

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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