Cerus Corporation (CERS) Given a $6.00 Price Target at Cowen and Company
Cerus Corporation (NASDAQ:CERS) received a $6.00 target price from research analysts at Cowen and Company in a research report issued on Thursday. The firm currently has a “buy” rating on the biotechnology company’s stock. Cowen and Company’s price target would indicate a potential upside of 98.68% from the stock’s current price.
Several other research firms also recently weighed in on CERS. ValuEngine downgraded Cerus Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. BidaskClub cut Cerus Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research cut Cerus Corporation from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $7.00 target price on shares of Cerus Corporation in a report on Wednesday, June 7th. Three equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.00.
Shares of Cerus Corporation (NASDAQ CERS) traded down 0.98% during mid-day trading on Thursday, hitting $3.02. The stock had a trading volume of 1,155,415 shares. The company’s market cap is $329.59 million. Cerus Corporation has a 52-week low of $1.93 and a 52-week high of $6.16. The stock has a 50 day moving average price of $2.60 and a 200-day moving average price of $2.93.
Cerus Corporation (NASDAQ:CERS) last released its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). Cerus Corporation had a negative return on equity of 120.31% and a negative net margin of 164.39%. The firm had revenue of $9.53 million during the quarter, compared to the consensus estimate of $9.14 million. During the same period last year, the business posted ($0.18) EPS. Cerus Corporation’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities analysts expect that Cerus Corporation will post ($0.64) earnings per share for the current fiscal year.
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In other Cerus Corporation news, insider Laurence M. Corash acquired 92,796 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $2.45 per share, for a total transaction of $227,350.20. Following the completion of the acquisition, the insider now directly owns 1,375,711 shares of the company’s stock, valued at $3,370,491.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 7.40% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Elk Creek Partners LLC boosted its holdings in shares of Cerus Corporation by 32.3% during the second quarter. Elk Creek Partners LLC now owns 5,739,285 shares of the biotechnology company’s stock worth $14,406,000 after purchasing an additional 1,402,106 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Cerus Corporation by 3.9% in the second quarter. Vanguard Group Inc. now owns 4,892,503 shares of the biotechnology company’s stock valued at $12,281,000 after acquiring an additional 184,076 shares during the last quarter. ARK Investment Management LLC boosted its holdings in Cerus Corporation by 126.5% in the second quarter. ARK Investment Management LLC now owns 1,680,925 shares of the biotechnology company’s stock valued at $4,219,000 after acquiring an additional 938,647 shares during the last quarter. Northern Trust Corp boosted its holdings in Cerus Corporation by 3.2% in the second quarter. Northern Trust Corp now owns 1,269,773 shares of the biotechnology company’s stock valued at $3,186,000 after acquiring an additional 39,684 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in Cerus Corporation by 1.4% in the second quarter. Stephens Inc. AR now owns 963,702 shares of the biotechnology company’s stock valued at $2,419,000 after acquiring an additional 12,973 shares during the last quarter. Institutional investors and hedge funds own 58.33% 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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