Cerus (CERS) Downgraded by Zacks Investment Research

Cerus (NASDAQ:CERS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Cerus Corporation is developing medical products based on a platform technology that prevents nucleic acid replication. The company’s initial application of this technology is the development of systems to inactivate viruses, bacteria and other pathogens in blood components used for transfusion. The company is also focusing research and development efforts on other potential health care applications for this platform technology, including pathogen inactivation of source plasma used for fractionation, improving the outcomes of stem cell transplantation. “

A number of other research firms have also weighed in on CERS. Cowen set a $6.00 price objective on Cerus and gave the company a “buy” rating in a research note on Thursday, October 5th. BTIG Research reissued a “neutral” rating on shares of Cerus in a research note on Friday, December 8th. BidaskClub lowered Cerus from a “sell” rating to a “strong sell” rating in a research note on Friday, December 29th. Finally, Robert W. Baird reissued a “buy” rating and set a $5.00 price objective on shares of Cerus in a research note on Friday, December 1st. Two investment analysts have 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 presently has an average rating of “Hold” and a consensus target price of $6.17.

Cerus (NASDAQ CERS) traded up $0.03 during trading hours on Wednesday, hitting $3.59. The stock had a trading volume of 349,900 shares, compared to its average volume of 419,950. The stock has a market capitalization of $409.57, a price-to-earnings ratio of -6.08 and a beta of 1.93. Cerus has a 52-week low of $1.93 and a 52-week high of $4.70. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.11 and a current ratio of 3.71.

Cerus (NASDAQ:CERS) last released its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. The firm had revenue of $10.80 million during the quarter, compared to analyst estimates of $11.95 million. Cerus had a negative return on equity of 142.18% and a negative net margin of 159.35%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. equities research analysts forecast that Cerus will post -0.57 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in CERS. Elk Creek Partners LLC lifted its stake in Cerus by 32.3% in the second quarter. Elk Creek Partners LLC now owns 5,739,285 shares of the biotechnology company’s stock worth $14,406,000 after acquiring an additional 1,402,106 shares during the period. Ark Investment Management LLC lifted its stake in Cerus by 126.5% in the second quarter. Ark Investment Management LLC now owns 1,680,925 shares of the biotechnology company’s stock worth $4,219,000 after acquiring an additional 938,647 shares during the period. Delta Lloyd Asset Management N.V. purchased a new stake in Cerus in the second quarter worth $1,255,000. First Midwest Bank Trust Division lifted its stake in Cerus by 50.3% in the third quarter. First Midwest Bank Trust Division now owns 1,078,277 shares of the biotechnology company’s stock worth $2,944,000 after acquiring an additional 360,785 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Cerus by 3.9% in the second quarter. Vanguard Group Inc. now owns 4,892,503 shares of the biotechnology company’s stock worth $12,281,000 after acquiring an additional 184,076 shares during the period. 56.44% of the stock is owned by institutional investors.

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About Cerus

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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