Cerus Corp. (CERS) Rating Lowered to Sell at Zacks Investment Research
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. “
Several other equities research analysts also recently weighed in on CERS. Robert W. Baird set a $10.00 target price on shares of Cerus Corp. and gave the stock a buy rating in a research note on Saturday, August 6th. 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 set a $10.00 target price on shares of Cerus Corp. in a research note on Monday, June 20th. Finally, Cantor Fitzgerald reaffirmed a buy rating and set a $9.00 target price on shares of Cerus Corp. in a research note on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $9.10.
Shares of Cerus Corp. (NASDAQ:CERS) opened at 6.10 on Wednesday. Cerus Corp. has a 1-year low of $4.27 and a 1-year high of $7.64. The firm’s market capitalization is $626.52 million. The stock’s 50 day moving average is $6.31 and its 200 day moving average is $6.23.
Cerus Corp. (NASDAQ:CERS) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by $0.01. Cerus Corp. had a negative return on equity of 73.14% and a negative net margin of 189.29%. The company earned $9.25 million during the quarter, compared to analyst estimates of $8.88 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. Equities analysts predict that Cerus Corp. will post ($0.68) earnings per share for the current year.
In other Cerus Corp. news, CFO Kevin Dennis Green sold 17,150 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $6.80, for a total value of $116,620.00. The sale was disclosed in a filing with the SEC, which is available through this link. 6.60% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in CERS. Marathon Capital Management increased its stake in shares of Cerus Corp. by 61.9% in the second quarter. Marathon Capital Management now owns 17,000 shares of the company’s stock worth $106,000 after buying an additional 6,500 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Cerus Corp. by 11.0% in the first quarter. Legal & General Group Plc now owns 17,612 shares of the company’s stock valued at $105,000 after buying an additional 1,744 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Cerus Corp. during the first quarter valued at about $110,000. Nuveen Fund Advisors LLC bought a new position in shares of Cerus Corp. during the second quarter valued at about $129,000. Finally, AQR Capital Management LLC bought a new position in shares of Cerus Corp. during the second quarter valued at about $181,000. 67.01% of the stock is currently owned by institutional investors.
Cerus Corp. Company Profile
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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