Cerus Corporation (NASDAQ:CERS) Insider Laurence M. Corash Acquires 92,796 Shares
Cerus Corporation (NASDAQ:CERS) insider Laurence M. Corash bought 92,796 shares of the stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of $2.45 per share, for a total transaction of $227,350.20. Following the purchase, the insider now owns 1,375,711 shares in the company, valued at $3,370,491.95. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Cerus Corporation (NASDAQ CERS) remained flat at $2.49 during midday trading on Monday. 670,409 shares of the stock traded hands. The firm’s 50 day moving average price is $2.35 and its 200-day moving average price is $3.34. The stock’s market capitalization is $271.75 million. Cerus Corporation has a 52-week low of $1.93 and a 52-week high of $7.19.
Cerus Corporation (NASDAQ:CERS) last posted its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.16). The business had revenue of $9.53 million during the quarter, compared to the consensus estimate of $9.14 million. Cerus Corporation had a negative return on equity of 120.31% and a negative net margin of 164.39%. Cerus Corporation’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the company earned ($0.18) earnings per share. On average, analysts predict that Cerus Corporation will post ($0.68) earnings per share for the current year.
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Several equities analysts have weighed in on the company. Cowen and Company lowered their target price on Cerus Corporation from $9.50 to $7.00 and set an “outperform” rating on the stock in a research note on Monday, April 17th. BidaskClub upgraded Cerus Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Cantor Fitzgerald reiterated a “buy” rating and set a $7.00 price target on shares of Cerus Corporation in a report on Wednesday, June 7th. ValuEngine lowered Cerus Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 17th. Finally, Zacks Investment Research lowered Cerus Corporation from a “hold” rating to a “sell” rating in a report on Friday, May 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.25.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Marathon Capital Management increased its position in Cerus Corporation by 32.4% in the first quarter. Marathon Capital Management now owns 24,500 shares of the biotechnology company’s stock worth $109,000 after buying an additional 6,000 shares during the last quarter. Budros Ruhlin & Roe Inc. increased its position in Cerus Corporation by 41.7% in the first quarter. Budros Ruhlin & Roe Inc. now owns 25,470 shares of the biotechnology company’s stock worth $113,000 after buying an additional 7,500 shares in the last quarter. Bellevue Group AG bought a new position in Cerus Corporation during the first quarter worth $134,000. Russell Investments Group Ltd. bought a new position in Cerus Corporation during the first quarter worth $137,000. Finally, Highbridge Capital Management LLC bought a new position in Cerus Corporation during the fourth quarter worth $167,000. Institutional investors and hedge funds own 62.58% of the company’s stock.
About Cerus Corporation
Cerus Corporation is a biomedical products company. The Company is engaged in developing and commercializing the INTERCEPT Blood System for blood safety. The Company operates through blood safety segment. The Company’s INTERCEPT Blood System is based on its technology for controlling biological replication, and is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.
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