Cerus Corp. Trading Down 5.8% on Analyst Downgrade (CERS)
Cerus Corp. (NASDAQ:CERS) traded down 5.8% on Friday after ING Group lowered their price target on the stock from $9.00 to $8.00, American Banking News.com reports. The company traded as low as $4.06 and last traded at $4.07, with a volume of 358,989 shares trading hands. The stock had previously closed at $4.32.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cantor Fitzgerald cut their price target on shares of Cerus Corp. from $8.00 to $7.00 in a research note on Monday, May 5th. They now have a “buy” rating on the stock. Analysts at MLV & Co
cut their price target on shares of Cerus Corp. from $8.50 to $6.00 in a research note on Friday, May 2nd. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a buy rating, Cerus Corp. has an average rating of “Buy” and an average target price of $7.50.
The stock’s 50-day moving average is $4.23 and its 200-day moving average is $5.72. The company’s market cap is $291.1 million.
Cerus Corp. (NASDAQ:CERS) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the 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. The company’s revenue for the quarter was down 19.2% on a year-over-year basis. Analysts expect that Cerus Corp. will post $-0.48 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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