Cerus Corporation (CERS) Given Average Rating of “Hold” by Analysts
Cerus Corporation (NASDAQ:CERS) has earned an average recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $7.25.
CERS has been the topic of several research analyst reports. ValuEngine lowered shares of Cerus Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 17th. Zacks Investment Research upgraded shares of Cerus Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub lowered shares of Cerus Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. BTIG Research reissued a “buy” rating and issued a $5.00 target price on shares of Cerus Corporation in a research note on Sunday, May 28th. Finally, Cantor Fitzgerald set a $7.00 target price on shares of Cerus Corporation and gave the company a “buy” rating in a research note on Tuesday, May 23rd.
Cerus Corporation (NASDAQ CERS) traded down 1.13% during mid-day trading on Friday, hitting $2.63. 1,218,505 shares of the stock traded hands. Cerus Corporation has a 12-month low of $1.93 and a 12-month high of $6.59. The stock’s market cap is $287.03 million. The company has a 50 day moving average of $2.49 and a 200-day moving average of $3.08.
Cerus Corporation (NASDAQ:CERS) last announced its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). The business had revenue of $9.53 million for the quarter, compared to analysts’ expectations of $9.14 million. Cerus Corporation had a negative net margin of 164.39% and a negative return on equity of 120.31%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.18) EPS. Equities research analysts forecast that Cerus Corporation will post ($0.68) earnings per share for the current year.
In other Cerus Corporation news, insider Laurence M. Corash bought 92,796 shares of Cerus Corporation stock in a transaction dated Friday, August 11th. The stock was bought 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 approximately $3,370,491.95. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 7.40% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its stake in Cerus Corporation by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 87,994 shares of the biotechnology company’s stock worth $221,000 after purchasing an additional 4,688 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Cerus Corporation by 8.0% in the second quarter. Goldman Sachs Group Inc. now owns 106,495 shares of the biotechnology company’s stock worth $267,000 after buying an additional 7,864 shares during the period. Bamco Inc. NY increased its position in Cerus Corporation by 20.8% in the second quarter. Bamco Inc. NY now owns 560,900 shares of the biotechnology company’s stock worth $1,408,000 after buying an additional 96,600 shares during the period. Voya Investment Management LLC increased its position in Cerus Corporation by 22.0% in the second quarter. Voya Investment Management LLC now owns 58,633 shares of the biotechnology company’s stock worth $147,000 after buying an additional 10,570 shares during the period. Finally, Virtu KCG Holdings LLC increased its position in Cerus Corporation by 84.1% in the second quarter. Virtu KCG Holdings LLC now owns 80,183 shares of the biotechnology company’s stock worth $201,000 after buying an additional 36,635 shares during the period. Hedge funds and other institutional investors own 58.74% 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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