Cerus Corporation (CERS) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Cerus Corporation (NASDAQ:CERS) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. The firm currently has $4.00 target price on the biotechnology company’s stock.
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 reports about the stock. BidaskClub upgraded shares of Cerus Corporation from a sell rating to a hold rating in a research note on Tuesday, August 8th. ValuEngine lowered shares of Cerus Corporation from a sell rating to a strong sell rating in a research note on Friday, September 1st. Finally, Cowen and Company set a $6.00 price target on shares of Cerus Corporation and gave the company a buy rating in a research note on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $6.40.
Shares of Cerus Corporation (NASDAQ CERS) opened at $3.60 on Wednesday. The company has a current ratio of 3.71, a quick ratio of 2.46 and a debt-to-equity ratio of 0.80. Cerus Corporation has a one year low of $1.93 and a one year high of $5.91.
Cerus Corporation (NASDAQ:CERS) last released its earnings results on Thursday, November 2nd. The biotechnology company reported ($0.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.03. Cerus Corporation had a negative net margin of 159.35% and a negative return on equity of 142.18%. The firm had revenue of $10.80 million for the quarter, compared to analyst estimates of $11.95 million. During the same period in the prior year, the firm earned ($0.14) earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. analysts expect that Cerus Corporation will post -0.59 earnings per share for the current year.
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A number of institutional investors have recently made changes to their positions in the business. Turner Investments LLC purchased a new position in Cerus Corporation in the third quarter valued at approximately $177,000. First Midwest Bank Trust Division boosted its holdings in shares of Cerus Corporation by 50.3% in the third quarter. First Midwest Bank Trust Division now owns 1,078,277 shares of the biotechnology company’s stock valued at $2,944,000 after acquiring an additional 360,785 shares during the period. Ardsley Advisory Partners acquired a new stake in shares of Cerus Corporation in the second quarter valued at approximately $200,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Cerus Corporation by 5.6% in the second 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. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Cerus Corporation by 8.0% in the second 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. Institutional investors own 58.18% of the company’s stock.
About Cerus Corporation
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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