Cerus Corporation (CERS) Given Average Rating of “Hold” by Analysts
Cerus Corporation (NASDAQ:CERS) has been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $7.00.
CERS has been the topic of several recent research reports. ValuEngine lowered Cerus Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. BidaskClub lowered Cerus Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Zacks Investment Research lowered Cerus Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Finally, Cowen and Company set a $6.00 price target on Cerus Corporation and gave the company a “buy” rating in a report on Thursday, October 5th.
In other Cerus Corporation news, insider Laurence M. Corash bought 92,796 shares of Cerus Corporation stock in a transaction on 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 purchase, the insider now directly owns 1,375,711 shares in the company, valued at approximately $3,370,491.95. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 7.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Ardsley Advisory Partners purchased a new stake in Cerus Corporation in the second quarter worth $200,000. The Manufacturers Life Insurance Company increased its stake in Cerus Corporation by 5.6% in 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 period. Goldman Sachs Group Inc. increased its stake 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 purchasing an additional 7,864 shares during the period. Bamco Inc. NY increased its stake 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 purchasing an additional 96,600 shares during the period. Finally, Voya Investment Management LLC increased its stake 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 purchasing an additional 10,570 shares during the period. Institutional investors and hedge funds own 58.33% of the company’s stock.
Shares of Cerus Corporation (NASDAQ:CERS) traded up 3.265% on Wednesday, hitting $3.005. 817,471 shares of the company traded hands. Cerus Corporation has a 1-year low of $1.93 and a 1-year high of $6.07. The firm’s 50 day moving average price is $2.64 and its 200-day moving average price is $2.89. The stock’s market capitalization is $327.96 million.
Cerus Corporation (NASDAQ:CERS) last released its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, meeting the Thomson Reuters’ 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 company had revenue of $9.53 million for the quarter, compared to analyst estimates of $9.14 million. During the same quarter in the prior year, the firm posted ($0.18) EPS. Cerus Corporation’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts expect that Cerus Corporation will post ($0.64) earnings per share for the current year.
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Cerus Corporation Company Profile
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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