Cerus Corp. (CERS) Rating Lowered to Sell at Zacks Investment Research
Cerus Corp. (NASDAQ:CERS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report 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. “
Several other equities analysts also recently commented on CERS. Robert W. Baird set a $10.00 price objective on Cerus Corp. and gave the company a “buy” rating in a research report on Saturday, August 6th. FBR & Co reaffirmed a “buy” rating on shares of Cerus Corp. in a research report on Monday, July 11th. BTIG Research reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Cerus Corp. in a research report on Monday, June 20th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Cerus Corp. in a research report on Thursday, July 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Cerus Corp. currently has a consensus rating of “Buy” and a consensus price target of $9.10.
Cerus Corp. (NASDAQ:CERS) opened at 6.00 on Wednesday. The stock has a 50 day moving average price of $6.35 and a 200 day moving average price of $6.23. The stock’s market cap is $616.25 million. Cerus Corp. has a 52-week low of $4.27 and a 52-week high of $7.64.
Cerus Corp. (NASDAQ:CERS) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. Cerus Corp. had a negative net margin of 189.29% and a negative return on equity of 73.14%. The company had revenue of $9.25 million for the quarter, compared to analysts’ expectations of $8.88 million. During the same quarter in the previous year, the company posted ($0.17) EPS. The business’s quarterly revenue was up 4.8% on a year-over-year basis. Analysts expect that Cerus Corp. will post ($0.68) EPS for the current fiscal year.
In other news, CFO Kevin Dennis Green sold 17,150 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $6.80, for a total transaction of $116,620.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlackRock Fund Advisors increased its stake in shares of Cerus Corp. by 0.7% in the first quarter. BlackRock Fund Advisors now owns 3,730,957 shares of the company’s stock worth $22,125,000 after buying an additional 24,166 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Cerus Corp. by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,559,771 shares of the company’s stock worth $15,179,000 after buying an additional 15,881 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of Cerus Corp. by 4.0% in the first quarter. Primecap Management Co. CA now owns 7,800,000 shares of the company’s stock worth $46,254,000 after buying an additional 300,000 shares during the last quarter. Kennedy Capital Management Inc. bought a new stake in shares of Cerus Corp. during the first quarter worth $5,390,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Cerus Corp. during the first quarter worth $110,000. 67.01% of the stock is currently owned by institutional investors and hedge funds.
About Cerus Corp.
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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