Cerus Corp. (CERS) Trading Down 6.6%
Cerus Corp. (NASDAQ:CERS)’s share price dropped 6.6% during mid-day trading on Monday . The stock traded as low as $6.82 and last traded at $6.82, with a volume of 1,445,941 shares traded. The stock had previously closed at $7.30.
CERS has been the subject of several analyst reports. Robert W. Baird restated an “outperform” rating and set a $9.00 target price on shares of Cerus Corp. in a research report on Wednesday, June 22nd. BTIG Research reiterated a “buy” rating and issued a $10.00 price objective (up from $8.00) on shares of Cerus Corp. in a research report on Friday, April 22nd. FBR & Co reiterated a “buy” rating on shares of Cerus Corp. in a research report on Monday, July 11th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $9.00 price objective on shares of Cerus Corp. in a research report on Sunday, July 31st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $9.10.
The firm has a 50-day moving average price of $6.48 and a 200-day moving average price of $5.91. The stock’s market capitalization is $698.75 million.
Cerus Corp. (NASDAQ:CERS) last posted its earnings results on Thursday, August 4th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by $0.01. The business earned $9.25 million during the quarter, compared to analysts’ expectations of $8.88 million. The company’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) EPS. On average, analysts expect that Cerus Corp. will post ($0.67) earnings per share for the current year.
Other institutional investors have recently bought and sold shares of the company. Rail Splitter Capital Management LLC increased its position in 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 in the last quarter. Stephens Inc. AR increased its position in 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 in the last quarter. Finally, Wells Fargo & Company MN increased its position in 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 in 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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