Cerus Corporation (CERS) Downgraded to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Cerus Corporation (NASDAQ:CERS) from a hold rating to a sell rating in a research report report published on Tuesday morning.
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 brokerages also recently weighed in on CERS. Cantor Fitzgerald reiterated a buy rating and set a $7.00 price target on shares of Cerus Corporation in a report on Wednesday, June 7th. BidaskClub raised Cerus Corporation from a sell rating to a hold rating in a research note on Tuesday, August 8th. Finally, ValuEngine downgraded Cerus Corporation from a sell rating to a strong sell rating in a research note on Friday, September 1st. Three research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $7.25.
Cerus Corporation (NASDAQ CERS) traded down 3.952% during trading on Tuesday, reaching $2.795. The company had a trading volume of 395,809 shares. The stock has a 50 day moving average price of $2.58 and a 200 day moving average price of $2.93. The firm’s market capitalization is $305.04 million. Cerus Corporation has a 12 month low of $1.93 and a 12 month high of $6.30.
Cerus Corporation (NASDAQ:CERS) last announced its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). The company had revenue of $9.53 million for the quarter, compared to the consensus estimate of $9.14 million. Cerus Corporation had a negative net margin of 164.39% and a negative return on equity of 120.31%. The company’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.18) EPS. On average, equities research analysts predict that Cerus Corporation will post ($0.68) earnings per share for the current year.
In related news, insider Laurence M. Corash bought 92,796 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was bought at an average price of $2.45 per share, with a total value of $227,350.20. Following the purchase, the insider now directly owns 1,375,711 shares of the company’s stock, valued at approximately $3,370,491.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 7.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of CERS. First Manhattan Co. raised its holdings in shares of Cerus Corporation by 31.3% during the second quarter. First Manhattan Co. now owns 42,000 shares of the biotechnology company’s stock worth $105,000 after acquiring an additional 10,000 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in Cerus Corporation by 59.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 48,377 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 18,000 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Cerus Corporation in the 1st quarter worth about $137,000. Voya Investment Management LLC increased its position 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 worth $147,000 after purchasing an additional 10,570 shares during the last quarter. Finally, Ardsley Advisory Partners acquired a new position in Cerus Corporation in the 2nd quarter worth about $200,000. Institutional investors and hedge funds own 58.33% 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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