Cantor Fitzgerald Boosts Cerus (NASDAQ:CERS) Price Target to $4.00

Cerus (NASDAQ:CERS) had its target price hoisted by Cantor Fitzgerald from $3.00 to $4.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other equities analysts have also recently issued research reports about the company. Stephens reiterated an equal weight rating and set a $2.50 target price on shares of Cerus in a report on Thursday, March 7th. Craig Hallum initiated coverage on Cerus in a report on Friday, April 12th. They set a buy rating and a $5.00 price objective for the company.

Cerus Stock Down 8.0 %

Shares of NASDAQ CERS traded down $0.14 during mid-day trading on Friday, reaching $1.62. 2,509,244 shares of the company’s stock were exchanged, compared to its average volume of 870,566. Cerus has a twelve month low of $1.21 and a twelve month high of $3.08. The company has a current ratio of 2.14, a quick ratio of 1.55 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $299.52 million, a price-to-earnings ratio of -9.53 and a beta of 1.31. The business has a fifty day simple moving average of $1.89 and a 200 day simple moving average of $1.86.

Cerus (NASDAQ:CERS) last announced its earnings results on Tuesday, March 5th. The biotechnology company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $46.77 million for the quarter, compared to the consensus estimate of $46.80 million. Cerus had a negative net margin of 19.27% and a negative return on equity of 58.30%. As a group, equities analysts expect that Cerus will post -0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Carol Moore sold 20,619 shares of Cerus stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $2.02, for a total value of $41,650.38. Following the sale, the senior vice president now owns 490,623 shares of the company’s stock, valued at $991,058.46. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Kevin Dennis Green sold 21,497 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $1.97, for a total value of $42,349.09. Following the completion of the sale, the chief financial officer now directly owns 618,750 shares in the company, valued at approximately $1,218,937.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carol Moore sold 20,619 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $2.02, for a total value of $41,650.38. Following the transaction, the senior vice president now directly owns 490,623 shares in the company, valued at approximately $991,058.46. The disclosure for this sale can be found here. Insiders have sold 177,516 shares of company stock valued at $372,912 in the last three months. 7.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Cerus

A number of hedge funds have recently made changes to their positions in CERS. Bouvel Investment Partners LLC lifted its holdings in Cerus by 2.3% during the 4th quarter. Bouvel Investment Partners LLC now owns 257,625 shares of the biotechnology company’s stock valued at $556,000 after purchasing an additional 5,778 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in Cerus in the 4th quarter valued at about $26,000. Swiss National Bank raised its holdings in Cerus by 3.7% in the 3rd quarter. Swiss National Bank now owns 396,900 shares of the biotechnology company’s stock valued at $643,000 after acquiring an additional 14,000 shares during the period. JGP Global Gestao de Recursos Ltda. bought a new position in Cerus in the 4th quarter valued at about $31,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Cerus by 8.3% during the fourth quarter. SG Americas Securities LLC now owns 188,702 shares of the biotechnology company’s stock worth $408,000 after acquiring an additional 14,433 shares during the period. 78.37% of the stock is owned by institutional investors and hedge funds.

About Cerus

Cerus Corporation operates as a biomedical products company. The company focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System, a proprietary technology for controlling biological replication that is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.