Cerus Corp. Price Target Cut to $6.00 by Analysts at MLV & Co (CERS)
Analysts at MLV & Co
decreased their price target on shares of Cerus Corp. (NASDAQ:CERS) from $8.50 to $6.00 in a research report issued to clients and investors on Friday, American Banking News.com reports. The firm currently has a “buy” rating on the stock. MLV & Co
‘s price target would suggest a potential upside of 56.25% from the stock’s previous close.
Shares of Cerus Corp. (NASDAQ:CERS) opened at 3.84 on Friday. Cerus Corp. has a 1-year low of $3.74 and a 1-year high of $8.00. The stock’s 50-day moving average is $4.8 and its 200-day moving average is $6.04. The company’s market cap is $277.1 million. Cerus Corp. also saw a large increase in short interest in April. As of April 15th, there was short interest totalling 11,263,531 shares, an increase of 24.4% from the March 31st total of 9,054,302 shares. Based on an average daily volume of 1,223,546 shares, the short-interest ratio is presently 9.2 days. Approximately 15.9% of the company’s shares are sold short.
Cerus Corp. (NASDAQ:CERS) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.12) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.12). The company had revenue of $7.86 million for the quarter, compared to the consensus estimate of $9.65 million. Cerus Corp.’s revenue was down 19.2% compared to the same quarter last year. Analysts expect that Cerus Corp. will post $-0.50 EPS for the current fiscal year.
Cerus Corporation is a biomedical products company focused on commercializing the INTERCEPT Blood System to enhance blood safety.
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