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 analysts have also recently weighed in on CERS. BTIG Research restated a buy rating and set a $10.00 price objective on shares of Cerus Corp. in a research report on Monday, June 20th. Robert W. Baird restated an outperform rating and set a $9.00 price objective on shares of Cerus Corp. in a research report on Wednesday, June 22nd. Cantor Fitzgerald restated a buy rating and set a $9.00 price objective on shares of Cerus Corp. in a research report on Thursday, July 7th. Finally, FBR & Co restated a buy rating on shares of Cerus Corp. in a research report on Monday, July 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Cerus Corp. presently has an average rating of Buy and an average target price of $9.10.
Cerus Corp. (NASDAQ:CERS) opened at 5.90 on Wednesday. The firm’s market cap is $605.98 million. The company has a 50-day moving average of $6.33 and a 200 day moving average of $6.23. Cerus Corp. has a 12-month low of $4.27 and a 12-month high of $7.64.
Cerus Corp. (NASDAQ:CERS) last posted its earnings results on Thursday, August 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm earned $9.25 million during the quarter, compared to analysts’ expectations of $8.88 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts expect that Cerus Corp. will post ($0.68) EPS for the current fiscal year.
In other Cerus Corp. news, CFO Kevin Dennis Green sold 17,150 shares of the firm’s stock in a transaction 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 document filed with the SEC, which is available at the SEC website. 6.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in CERS. Macquarie Group Ltd. purchased a new stake in shares of Cerus Corp. during the second quarter worth about $1,868,000. Schwab Charles Investment Management Inc. raised its stake in shares of Cerus Corp. by 14.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 160,500 shares of the company’s stock worth $1,002,000 after buying an additional 20,700 shares during the period. Elk Creek Partners LLC raised its stake in shares of Cerus Corp. by 12.1% in the second quarter. Elk Creek Partners LLC now owns 2,763,235 shares of the company’s stock worth $17,243,000 after buying an additional 299,125 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Cerus Corp. during the second quarter worth about $181,000. Finally, Paloma Partners Management Co purchased a new stake in shares of Cerus Corp. during the second quarter worth about $990,000. 67.01% of the stock is currently owned by institutional investors and hedge funds.
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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