Cerus (NASDAQ:CERS) Sets New 52-Week High – What’s Next?

Cerus Corporation (NASDAQ:CERS) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $2.89 and last traded at $2.7850, with a volume of 1308480 shares trading hands. The stock had previously closed at $2.52.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CERS. Cowen reaffirmed a “buy” rating on shares of Cerus in a report on Monday. Wall Street Zen upgraded Cerus from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Cerus in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.00.

Cerus Trading Up 13.7%

The firm has a market capitalization of $550.15 million, a price-to-earnings ratio of -35.31 and a beta of 1.52. The business’s 50-day moving average price is $1.90 and its 200 day moving average price is $1.58. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.89 and a quick ratio of 1.29.

Cerus (NASDAQ:CERS) last released its quarterly earnings data on Thursday, November 6th. The biotechnology company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.02. Cerus had a negative net margin of 8.01% and a negative return on equity of 27.58%. The firm had revenue of $60.24 million for the quarter, compared to analyst estimates of $55.12 million. On average, equities analysts forecast that Cerus Corporation will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cerus

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of Cerus by 291.6% in the 1st quarter. AQR Capital Management LLC now owns 1,429,062 shares of the biotechnology company’s stock worth $1,986,000 after purchasing an additional 1,064,133 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Cerus by 112.5% in the 1st quarter. Acadian Asset Management LLC now owns 1,898,621 shares of the biotechnology company’s stock valued at $2,637,000 after buying an additional 1,005,079 shares in the last quarter. Millennium Management LLC increased its position in shares of Cerus by 17.6% in the third quarter. Millennium Management LLC now owns 3,470,062 shares of the biotechnology company’s stock worth $5,517,000 after purchasing an additional 519,301 shares during the period. Qube Research & Technologies Ltd boosted its stake in Cerus by 156.5% in the second quarter. Qube Research & Technologies Ltd now owns 749,564 shares of the biotechnology company’s stock valued at $1,057,000 after buying an additional 457,347 shares in the last quarter. Finally, Algert Global LLC grew its position in Cerus by 451.3% during the 3rd quarter. Algert Global LLC now owns 509,636 shares of the biotechnology company’s stock worth $810,000 after acquiring an additional 417,200 shares during the last quarter. 78.37% of the stock is owned by institutional investors.

Cerus Company Profile

Cerus Corporation is a biomedical products company dedicated to enhancing the safety of blood transfusions worldwide. Its flagship offering, the INTERCEPT Blood System, employs pathogen reduction technology designed to inactivate a broad spectrum of viruses, bacteria, and parasites in donated platelets and plasma. This approach aims to mitigate the risk of transfusion-transmitted infections and improve blood component safety for patients.

The INTERCEPT platform integrates seamlessly into existing blood center workflows, providing a one-step treatment process for collected blood products.