ValuEngine Downgrades Cerus Corporation (CERS) to Strong Sell
Cerus Corporation (NASDAQ:CERS) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report released on Friday.
A number of other equities research analysts have also recently issued reports on the company. BidaskClub cut Cerus Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research upgraded Cerus Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Cantor Fitzgerald restated a “buy” rating and issued a $7.00 price target on shares of Cerus Corporation in a research note on Wednesday, June 7th. Finally, BTIG Research restated a “buy” rating and issued a $5.00 price target on shares of Cerus Corporation in a research note on Sunday, May 28th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.25.
Shares of Cerus Corporation (NASDAQ:CERS) traded up 8.51% during midday trading on Friday, hitting $2.55. 1,787,514 shares of the stock traded hands. The company’s market capitalization is $278.30 million. The firm’s 50 day moving average price is $2.38 and its 200 day moving average price is $3.18. Cerus Corporation has a 12-month low of $1.93 and a 12-month high of $6.61.
Cerus Corporation (NASDAQ:CERS) last announced its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 analysts’ expectations of $9.14 million. During the same quarter in the prior year, the business posted ($0.18) EPS. The business’s revenue was up 3.0% compared to the same quarter last year. Analysts expect that Cerus Corporation will post ($0.68) EPS for the current year.
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In other Cerus Corporation news, insider Laurence M. Corash purchased 92,796 shares of the company’s stock in a transaction that occurred 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 purchase, the insider now owns 1,375,711 shares in the company, valued at $3,370,491.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in Cerus Corporation by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,994 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 4,688 shares during the period. Goldman Sachs Group Inc. raised its stake in Cerus Corporation by 8.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 106,495 shares of the biotechnology company’s stock valued at $267,000 after acquiring an additional 7,864 shares during the period. Bamco Inc. NY raised its stake in Cerus Corporation by 20.8% in the 2nd quarter. Bamco Inc. NY now owns 560,900 shares of the biotechnology company’s stock valued at $1,408,000 after acquiring an additional 96,600 shares during the period. Voya Investment Management LLC raised its stake in Cerus Corporation by 22.0% in the 2nd quarter. Voya Investment Management LLC now owns 58,633 shares of the biotechnology company’s stock valued at $147,000 after acquiring an additional 10,570 shares during the period. Finally, Virtu KCG Holdings LLC raised its stake in Cerus Corporation by 84.1% in the 2nd quarter. Virtu KCG Holdings LLC now owns 80,183 shares of the biotechnology company’s stock valued at $201,000 after acquiring an additional 36,635 shares during the period. Institutional investors and hedge funds own 58.74% 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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