BidaskClub downgraded shares of Cerus (NASDAQ:CERS) from a sell rating to a strong sell rating in a report published on Friday morning.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research cut Cerus from a buy rating to a hold rating in a research note on Monday, August 6th. Cantor Fitzgerald reiterated a buy rating and issued a $9.00 price target on shares of Cerus in a research note on Thursday, August 2nd. Finally, Cowen set a $10.00 price target on Cerus and gave the stock a buy rating in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cerus presently has an average rating of Buy and a consensus price target of $8.00.

Shares of NASDAQ:CERS traded up $0.10 during trading on Friday, hitting $5.99. The company’s stock had a trading volume of 695,867 shares, compared to its average volume of 1,109,677. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.57 and a current ratio of 5.03. Cerus has a fifty-two week low of $2.75 and a fifty-two week high of $8.05. The stock has a market cap of $964.80 million, a price-to-earnings ratio of -10.70 and a beta of 1.51.

Cerus (NASDAQ:CERS) last released its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($0.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. Cerus had a negative return on equity of 82.60% and a negative net margin of 76.37%. The business had revenue of $15.42 million for the quarter, compared to analysts’ expectations of $13.58 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. The company’s revenue was up 61.8% compared to the same quarter last year. On average, equities research analysts predict that Cerus will post -0.43 EPS for the current year.

In related news, CFO Kevin Dennis Green sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $7.50, for a total value of $375,000.00. Following the completion of the sale, the chief financial officer now directly owns 110,825 shares of the company’s stock, valued at $831,187.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Richard J. Benjamin sold 35,416 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $7.20, for a total value of $254,995.20. Following the completion of the sale, the insider now directly owns 35,416 shares of the company’s stock, valued at $254,995.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,765 shares of company stock worth $686,462. Insiders own 6.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Cerus by 9.6% in the second quarter. BlackRock Inc. now owns 10,405,997 shares of the biotechnology company’s stock valued at $69,408,000 after buying an additional 909,836 shares during the last quarter. ARK Investment Management LLC increased its holdings in Cerus by 8.4% in the second quarter. ARK Investment Management LLC now owns 5,695,371 shares of the biotechnology company’s stock valued at $37,988,000 after buying an additional 443,387 shares during the last quarter. Millennium Management LLC increased its holdings in Cerus by 103.7% in the first quarter. Millennium Management LLC now owns 1,740,398 shares of the biotechnology company’s stock valued at $9,537,000 after buying an additional 886,056 shares during the last quarter. Northern Trust Corp increased its holdings in Cerus by 6.5% in the second quarter. Northern Trust Corp now owns 1,557,190 shares of the biotechnology company’s stock valued at $10,386,000 after buying an additional 94,527 shares during the last quarter. Finally, Raymond James & Associates increased its holdings in Cerus by 4.4% in the second quarter. Raymond James & Associates now owns 851,895 shares of the biotechnology company’s stock valued at $5,682,000 after buying an additional 35,700 shares during the last quarter. 59.76% of the stock is owned by hedge funds and other institutional investors.

About Cerus

Cerus Corporation, a biomedical products company, focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System is based on its proprietary technology for controlling biological replication; and targets and inactivates blood-borne pathogens, such as viruses, bacteria, and parasites, as well as harmful white blood cells, while preserving the therapeutic properties of platelet, plasma, and red blood cell transfusion products.

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