Cerus (NASDAQ:CERS) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Cerus (NASDAQ:CERS) from a sell rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

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 research analysts have also issued research reports about the stock. BidaskClub lowered shares of Cerus from a buy rating to a hold rating in a research note on Friday, August 9th. ValuEngine raised shares of Cerus from a hold rating to a buy rating in a research note on Tuesday, July 23rd.



Shares of NASDAQ CERS traded down $0.02 during mid-day trading on Wednesday, hitting $5.22. The company’s stock had a trading volume of 14,015 shares, compared to its average volume of 967,521. The stock has a market capitalization of $732.47 million, a PE ratio of -11.80 and a beta of 1.60. The company has a current ratio of 2.67, a quick ratio of 2.33 and a debt-to-equity ratio of 0.88. Cerus has a one year low of $4.49 and a one year high of $7.81. The company has a fifty day simple moving average of $5.44.

Cerus (NASDAQ:CERS) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The business had revenue of $18.20 million during the quarter, compared to the consensus estimate of $17.55 million. Cerus had a negative net margin of 98.69% and a negative return on equity of 85.73%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the business posted ($0.10) EPS. On average, equities research analysts anticipate that Cerus will post -0.49 EPS for the current fiscal year.

In related news, insider William Mariner Greenman purchased 10,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were purchased at an average price of $4.60 per share, with a total value of $46,000.00. Following the completion of the purchase, the insider now owns 638,485 shares in the company, valued at approximately $2,937,031. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard J. Benjamin sold 16,444 shares of Cerus stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $5.01, for a total transaction of $82,384.44. The disclosure for this sale can be found here. Insiders own 7.26% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC acquired a new stake in shares of Cerus in the second quarter valued at approximately $27,000. Meristem Family Wealth LLC acquired a new stake in shares of Cerus in the second quarter valued at approximately $56,000. Virtu Financial LLC raised its holdings in shares of Cerus by 16.6% in the first quarter. Virtu Financial LLC now owns 12,639 shares of the biotechnology company’s stock valued at $79,000 after purchasing an additional 1,798 shares during the last quarter. Jefferies Group LLC acquired a new stake in shares of Cerus in the second quarter valued at approximately $75,000. Finally, SG Americas Securities LLC raised its holdings in shares of Cerus by 23.9% in the first quarter. SG Americas Securities LLC now owns 16,317 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 3,151 shares during the last quarter. Institutional investors own 71.78% of the company’s stock.

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, a proprietary technology for controlling biological replication that is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.

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