Cerus (CERS) Upgraded at BidaskClub

BidaskClub upgraded shares of Cerus (NASDAQ:CERS) from a strong sell rating to a sell rating in a research note issued to investors on Saturday.

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

Shares of CERS stock opened at $6.29 on Friday. Cerus has a 1 year low of $2.75 and a 1 year high of $8.05. The firm has a market cap of $853.73 million, a P/E ratio of -11.23 and a beta of 1.51. 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 (NASDAQ:CERS) last announced its earnings results on Thursday, August 2nd. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.01. Cerus had a negative net margin of 76.37% and a negative return on equity of 82.60%. The business had revenue of $15.42 million for the quarter, compared to analyst estimates of $13.58 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. Cerus’s revenue was up 61.8% compared to the same quarter last year. Analysts predict that Cerus will post -0.43 EPS for the current year.

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

Institutional investors have recently made changes to their positions in the business. First Quadrant L P CA bought a new position in shares of Cerus during the 3rd quarter worth approximately $112,000. Essex Investment Management Co. LLC grew its stake in shares of Cerus by 3.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 486,972 shares of the biotechnology company’s stock worth $3,511,000 after acquiring an additional 16,175 shares in the last quarter. First Manhattan Co. grew its stake in shares of Cerus by 47.6% during the 3rd quarter. First Manhattan Co. now owns 62,000 shares of the biotechnology company’s stock worth $447,000 after acquiring an additional 20,000 shares in the last quarter. Northern Trust Corp grew its stake in shares of Cerus by 6.5% during the 2nd quarter. Northern Trust Corp now owns 1,557,190 shares of the biotechnology company’s stock worth $10,386,000 after acquiring an additional 94,527 shares in the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Cerus by 8.1% during the 2nd quarter. California Public Employees Retirement System now owns 127,628 shares of the biotechnology company’s stock worth $851,000 after acquiring an additional 9,528 shares in the last quarter. 59.50% of the stock is currently 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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