Zacks: Analysts Anticipate Cerus Co. (NASDAQ:CERS) Will Post Quarterly Sales of $19.27 Million

Equities analysts expect that Cerus Co. (NASDAQ:CERS) will report $19.27 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Cerus’ earnings, with the lowest sales estimate coming in at $19.23 million and the highest estimate coming in at $19.30 million. Cerus posted sales of $16.53 million in the same quarter last year, which suggests a positive year-over-year growth rate of 16.6%. The company is expected to announce its next quarterly earnings report on Tuesday, February 25th.

On average, analysts expect that Cerus will report full year sales of $72.98 million for the current fiscal year, with estimates ranging from $72.96 million to $73.00 million. For the next financial year, analysts expect that the company will report sales of $87.40 million, with estimates ranging from $85.60 million to $89.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Cerus.

Cerus (NASDAQ:CERS) last released its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.01). The business had revenue of $18.00 million during the quarter, compared to the consensus estimate of $17.69 million. Cerus had a negative net margin of 100.38% and a negative return on equity of 100.59%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.11) earnings per share.

CERS has been the subject of a number of research analyst reports. BTIG Research raised shares of Cerus from a “neutral” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Wednesday, November 13th. Zacks Investment Research raised shares of Cerus from a “sell” rating to a “hold” rating in a report on Monday, October 7th. ValuEngine cut shares of Cerus from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. BidaskClub cut shares of Cerus from a “sell” rating to a “strong sell” rating in a research report on Friday, October 25th. Finally, Stephens assumed coverage on Cerus in a report on Thursday, August 22nd. They set an “overweight” rating and a $8.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $7.50.

In other Cerus news, SVP Carol Moore sold 30,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $5.33, for a total transaction of $159,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.26% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System grew its holdings in Cerus by 3.0% during the 3rd quarter. California State Teachers Retirement System now owns 216,083 shares of the biotechnology company’s stock worth $1,114,000 after acquiring an additional 6,363 shares during the period. Stifel Financial Corp acquired a new stake in shares of Cerus during the third quarter worth $273,000. Strategic Wealth Advisors Group LLC acquired a new stake in shares of Cerus during the third quarter worth $247,000. California Public Employees Retirement System grew its stake in shares of Cerus by 38.9% during the third quarter. California Public Employees Retirement System now owns 245,700 shares of the biotechnology company’s stock worth $1,267,000 after purchasing an additional 68,872 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Cerus by 69.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,544,276 shares of the biotechnology company’s stock valued at $44,046,000 after purchasing an additional 3,494,891 shares during the last quarter. Institutional investors and hedge funds own 75.02% of the company’s stock.

NASDAQ:CERS traded down $0.02 during mid-day trading on Friday, reaching $4.18. 36,491 shares of the company were exchanged, compared to its average volume of 933,202. The company has a quick ratio of 2.31, a current ratio of 2.77 and a debt-to-equity ratio of 0.95. The stock has a market cap of $608.99 million, a PE ratio of -9.55 and a beta of 1.57. Cerus has a 12 month low of $3.95 and a 12 month high of $6.88. The company has a fifty day moving average of $4.35 and a 200 day moving average of $4.96.

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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