Cerus Corporation (CERS) Stock Rating Upgraded by Zacks Investment Research
Cerus Corporation (NASDAQ:CERS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
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. “
Other equities analysts have also issued reports about the company. BidaskClub raised Cerus Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Cowen and Company set a $6.00 price objective on Cerus Corporation and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, ValuEngine lowered Cerus Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $7.00.
Shares of Cerus Corporation (NASDAQ CERS) opened at 3.04 on Monday. The stock’s market capitalization is $331.78 million. The firm’s 50-day moving average is $2.70 and its 200-day moving average is $2.86. Cerus Corporation has a 52 week low of $1.93 and a 52 week high of $5.91.
Cerus Corporation (NASDAQ:CERS) last released its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). The business had revenue of $9.53 million for the quarter, compared to analyst estimates of $9.14 million. Cerus Corporation had a negative return on equity of 120.31% and a negative net margin of 164.39%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.18) EPS. On average, equities research analysts anticipate that Cerus Corporation will post ($0.64) EPS for the current fiscal year.
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In other Cerus Corporation news, insider Laurence M. Corash acquired 92,796 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $2.45 per share, for a total transaction of $227,350.20. Following the acquisition, the insider now directly owns 1,375,711 shares of the company’s stock, valued at $3,370,491.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.40% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of CERS. Elk Creek Partners LLC increased its holdings in Cerus Corporation by 32.3% during the 2nd quarter. Elk Creek Partners LLC now owns 5,739,285 shares of the biotechnology company’s stock worth $14,406,000 after purchasing an additional 1,402,106 shares during the last quarter. ARK Investment Management LLC increased its holdings in Cerus Corporation by 126.5% during the 2nd quarter. ARK Investment Management LLC now owns 1,680,925 shares of the biotechnology company’s stock worth $4,219,000 after purchasing an additional 938,647 shares during the last quarter. Delta Lloyd Asset Management N.V. purchased a new stake in Cerus Corporation during the 2nd quarter worth approximately $1,255,000. Point72 Asset Management L.P. purchased a new stake in Cerus Corporation during the 1st quarter worth approximately $1,828,000. Finally, Vanguard Group Inc. increased its holdings in Cerus Corporation by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 4,708,427 shares of the biotechnology company’s stock worth $20,952,000 after purchasing an additional 343,597 shares during the last quarter. Institutional investors own 58.37% of the company’s stock.
About Cerus Corporation
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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