Cerus (CERS) Upgraded to “Hold” by Zacks Investment Research

Cerus (NASDAQ:CERS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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. “

Other equities analysts have also issued research reports about the stock. BidaskClub upgraded shares of Cerus from a “hold” rating to a “buy” rating in a report on Tuesday, March 6th. BTIG Research reiterated a “hold” rating on shares of Cerus in a report on Saturday. Cantor Fitzgerald reiterated an “overweight” rating and set a $5.00 price target on shares of Cerus in a report on Friday, January 5th. ValuEngine upgraded shares of Cerus from a “strong sell” rating to a “sell” rating in a report on Thursday, January 4th. Finally, Robert W. Baird restated a “buy” rating and issued a $5.00 target price on shares of Cerus in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Cerus currently has a consensus rating of “Hold” and a consensus price target of $5.00.

Shares of Cerus (NASDAQ:CERS) traded up $0.29 during trading hours on Wednesday, hitting $5.42. 1,462,477 shares of the stock were exchanged, compared to its average volume of 1,585,951. The firm has a market capitalization of $674.33, a price-to-earnings ratio of -9.68 and a beta of 2.16. The company has a current ratio of 3.89, a quick ratio of 3.26 and a debt-to-equity ratio of 0.77. Cerus has a 52 week low of $1.93 and a 52 week high of $5.43.

Cerus (NASDAQ:CERS) last issued its quarterly earnings results on Thursday, March 8th. The biotechnology company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $16.20 million for the quarter, compared to analyst estimates of $17.53 million. Cerus had a negative net margin of 139.06% and a negative return on equity of 154.46%. Cerus’s revenue was up 60.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.13) earnings per share. research analysts anticipate that Cerus will post -0.43 earnings per share for the current fiscal year.

In related news, CEO William Mariner Greenman sold 7,735 shares of the business’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $4.80, for a total value of $37,128.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 14,381 shares of company stock worth $69,685. 7.40% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in CERS. BB&T Securities LLC acquired a new position in Cerus in the third quarter valued at $100,000. Teacher Retirement System of Texas bought a new stake in Cerus in the fourth quarter valued at $126,000. Voya Investment Management LLC increased its stake in Cerus by 22.0% in the second quarter. Voya Investment Management LLC now owns 58,633 shares of the biotechnology company’s stock valued at $147,000 after purchasing an additional 10,570 shares in the last quarter. Turner Investments LLC bought a new stake in Cerus in the third quarter valued at $177,000. Finally, MetLife Investment Advisors LLC bought a new stake in Cerus in the fourth quarter valued at $197,000. Institutional investors and hedge funds own 56.27% of the company’s stock.

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Cerus 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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