BidaskClub Lowers Cerus (CERS) to Sell

BidaskClub lowered shares of Cerus (NASDAQ:CERS) from a hold rating to a sell rating in a research report released on Thursday.

A number of other equities research analysts also recently issued reports on CERS. Cantor Fitzgerald reiterated a reduce rating and set a $9.00 price target on shares of Cerus in a research report on Friday, July 20th. Zacks Investment Research upgraded shares of Cerus from a hold rating to a buy rating and set a $8.50 price target for the company in a research report on Tuesday, July 24th. Finally, Cowen set a $10.00 price target on shares of Cerus and gave the company a buy rating in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $8.00.

Shares of CERS opened at $6.49 on Thursday. Cerus has a twelve month low of $2.75 and a twelve month high of $8.05. The company has a market capitalization of $964.80 million, a price-to-earnings ratio of -11.59 and a beta of 1.51. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.57 and a current ratio of 5.03.

Cerus (NASDAQ:CERS) last posted its quarterly earnings results on Thursday, August 2nd. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.01. Cerus had a negative net margin of 76.37% and a negative return on equity of 82.60%. The company had revenue of $15.42 million during the quarter, compared to the consensus estimate of $13.58 million. During the same period last year, the firm earned ($0.16) EPS. The company’s revenue for the quarter was up 61.8% on a year-over-year basis. Analysts expect that Cerus will post -0.43 EPS for the current year.

In other news, insider Richard J. Benjamin sold 35,416 shares of Cerus stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $7.20, for a total transaction of $254,995.20. Following the completion of the sale, the insider now directly owns 35,416 shares in the company, valued at approximately $254,995.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kevin Dennis Green sold 50,000 shares of Cerus stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $7.50, for a total transaction of $375,000.00. Following the sale, the chief financial officer now owns 110,825 shares of the company’s stock, valued at $831,187.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,982 shares of company stock valued at $669,514. Insiders own 6.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its position in shares of Cerus by 10.9% during the 1st quarter. Rhumbline Advisers now owns 107,397 shares of the biotechnology company’s stock worth $589,000 after purchasing an additional 10,580 shares during the last quarter. Swiss National Bank raised its position in shares of Cerus by 20.3% during the 1st quarter. Swiss National Bank now owns 221,900 shares of the biotechnology company’s stock worth $1,216,000 after purchasing an additional 37,500 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Cerus by 27.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 627,912 shares of the biotechnology company’s stock worth $3,441,000 after purchasing an additional 136,003 shares during the last quarter. Northern Trust Corp raised its position in shares of Cerus by 10.4% during the 1st quarter. Northern Trust Corp now owns 1,462,663 shares of the biotechnology company’s stock worth $8,015,000 after purchasing an additional 138,190 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Cerus by 11.9% during the 1st quarter. BlackRock Inc. now owns 9,496,161 shares of the biotechnology company’s stock worth $52,040,000 after purchasing an additional 1,010,450 shares during the last quarter. Institutional investors own 59.76% of the company’s stock.

About Cerus

Cerus Corporation, a biomedical products company, focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System is based on its proprietary technology for controlling biological replication; and targets and inactivates blood-borne pathogens, such as viruses, bacteria, and parasites, as well as harmful white blood cells, while preserving the therapeutic properties of platelet, plasma, and red blood cell transfusion products.

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