Cerus Corporation (CERS) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Cerus Corporation (NASDAQ:CERS) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.03, Briefing.com reports. The business had revenue of $10.80 million for the quarter, compared to analyst estimates of $11.95 million. Cerus Corporation had a negative net margin of 164.39% and a negative return on equity of 120.31%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.14) EPS.
CERS has been the topic of several research reports. BidaskClub upgraded shares of Cerus Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. ValuEngine lowered shares of Cerus Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Zacks Investment Research lowered shares of 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 shares of Cerus Corporation and gave the company a “buy” rating in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Cerus Corporation currently has an average rating of “Hold” and a consensus price target of $7.00.
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In related news, insider Laurence M. Corash purchased 92,796 shares of the stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $2.45 per share, for a total transaction of $227,350.20. Following the completion of the transaction, the insider now directly owns 1,375,711 shares of the company’s stock, valued at approximately $3,370,491.95. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.40% of the company’s stock.
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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