BidaskClub upgraded shares of Cerus (NASDAQ:CERS) from a strong sell rating to a sell rating in a research report sent to investors on Friday.
A number of other brokerages have also recently issued reports on CERS. Cantor Fitzgerald reiterated a buy rating and issued a $9.00 target price on shares of Cerus in a report on Wednesday, October 3rd. Zacks Investment Research upgraded Cerus from a hold rating to a buy rating and set a $8.00 target price on the stock in a report on Wednesday, October 3rd. Finally, ValuEngine cut Cerus from a strong-buy rating to a buy rating in a report on Monday, November 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $9.00.
Shares of CERS opened at $5.35 on Friday. Cerus has a 12-month low of $3.35 and a 12-month high of $8.05. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.48 and a quick ratio of 3.17.
Cerus (NASDAQ:CERS) last issued its earnings results on Thursday, November 1st. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.11). Cerus had a negative return on equity of 68.90% and a negative net margin of 74.95%. The company had revenue of $15.40 million for the quarter, compared to analysts’ expectations of $15.40 million. During the same period last year, the business earned ($0.12) EPS. Cerus’s quarterly revenue was up 42.6% compared to the same quarter last year. On average, research analysts anticipate that Cerus will post -0.43 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CERS. BlackRock Inc. raised its position in Cerus by 9.6% in the 2nd quarter. BlackRock Inc. now owns 10,405,997 shares of the biotechnology company’s stock valued at $69,408,000 after buying an additional 909,836 shares during the last quarter. ARK Investment Management LLC raised its position in Cerus by 14.1% in the 3rd quarter. ARK Investment Management LLC now owns 6,499,032 shares of the biotechnology company’s stock valued at $46,858,000 after buying an additional 803,661 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in Cerus in the 3rd quarter valued at $4,815,000. Man Group plc raised its position in Cerus by 116.2% in the 3rd quarter. Man Group plc now owns 1,043,123 shares of the biotechnology company’s stock valued at $7,521,000 after buying an additional 560,723 shares during the last quarter. Finally, Fosun International Ltd purchased a new stake in Cerus in the 3rd quarter valued at $3,275,000. 60.58% of the stock is owned by institutional investors and hedge funds.
Cerus Company Profile
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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