Cerus Corp. (CERS) Stock Price Down 2.8%
Cerus Corp. (NASDAQ:CERS)’s share price dropped 2.8% during trading on Tuesday . The company traded as low as $6.70 and last traded at $6.71, with a volume of 525,765 shares trading hands. The stock had previously closed at $6.90.
CERS has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated a “buy” rating and set a $9.00 target price on shares of Cerus Corp. in a report on Sunday, July 31st. FBR & Co reaffirmed a “buy” rating on shares of Cerus Corp. in a research note on Monday, July 11th. BTIG Research reaffirmed a “buy” rating and issued a $10.00 price target on shares of Cerus Corp. in a research note on Monday, June 20th. Robert W. Baird set a $10.00 price target on Cerus Corp. and gave the stock a “buy” rating in a research note on Saturday, August 6th. Finally, Zacks Investment Research cut Cerus Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Cerus Corp. currently has an average rating of “Buy” and an average target price of $9.10.
The company’s market cap is $652.72 million. The company has a 50 day moving average price of $6.76 and a 200-day moving average price of $6.09.
Cerus Corp. (NASDAQ:CERS) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.01. The company earned $9.25 million during the quarter, compared to analysts’ expectations of $8.88 million. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) earnings per share. Equities analysts anticipate that Cerus Corp. will post ($0.68) EPS for the current year.
In related news, CFO Kevin Dennis Green sold 17,150 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $6.80, for a total transaction of $116,620.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
A hedge fund recently raised its stake in Cerus Corp. stock. Ameriprise Financial Inc. raised its position in Cerus Corp. (NASDAQ:CERS) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,030 shares of the company’s stock after buying an additional 19,000 shares during the period. Ameriprise Financial Inc. owned 0.25% of Cerus Corp. worth $1,550,000 at the end of the most recent 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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