Cerus (NASDAQ:CERS) Posts Quarterly Earnings Results, Hits Expectations

Cerus (NASDAQ:CERS) issued its quarterly earnings results on Monday. The biotechnology company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01), FiscalAI reports. Cerus had a negative return on equity of 27.58% and a negative net margin of 8.01%.The company had revenue of $64.58 million during the quarter, compared to analysts’ expectations of $59.31 million.

Cerus Stock Down 1.2%

Shares of NASDAQ:CERS traded down $0.03 during trading on Monday, hitting $2.53. 1,725,332 shares of the company were exchanged, compared to its average volume of 1,403,878. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.89 and a quick ratio of 1.29. The firm’s 50 day moving average price is $2.30 and its 200-day moving average price is $1.82. The stock has a market capitalization of $485.99 million, a P/E ratio of -31.63 and a beta of 1.51. Cerus has a 12-month low of $1.12 and a 12-month high of $2.95.

Analysts Set New Price Targets

A number of brokerages have commented on CERS. TD Cowen reissued a “buy” rating on shares of Cerus in a report on Monday, January 12th. Wall Street Zen raised Cerus from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CERS. Cibc World Markets Corp acquired a new position in shares of Cerus during the fourth quarter worth about $25,000. CIBC Bancorp USA Inc. purchased a new stake in shares of Cerus during the 3rd quarter worth $31,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Cerus during the 1st quarter worth $32,000. Aquatic Capital Management LLC purchased a new position in shares of Cerus in the 3rd quarter valued at about $35,000. Finally, MML Investors Services LLC acquired a new stake in shares of Cerus in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.