Cerus (NASDAQ:CERS) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Cerus (NASDAQ:CERS) from a hold rating to a buy rating in a research note issued to investors on Saturday morning, BidAskClub reports.

A number of other research analysts have also recently commented on the company. Stifel Nicolaus upped their price objective on Cerus from $7.00 to $8.00 and gave the company a buy rating in a report on Wednesday, May 27th. Stephens decreased their price objective on Cerus from $7.50 to $6.50 and set an overweight rating on the stock in a report on Thursday, April 16th. Cantor Fitzgerald initiated coverage on Cerus in a report on Monday, June 15th. They issued a buy rating and a $9.00 price objective on the stock. Finally, Zacks Investment Research cut Cerus from a buy rating to a hold rating in a report on Thursday, June 18th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $7.40.

Shares of Cerus stock opened at $6.60 on Friday. Cerus has a 1-year low of $2.71 and a 1-year high of $7.17. The stock has a market cap of $1.08 billion, a P/E ratio of -13.75 and a beta of 1.27. The stock’s 50 day simple moving average is $6.05 and its 200-day simple moving average is $5.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.95 and a quick ratio of 3.47.

Cerus (NASDAQ:CERS) last released its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported ($0.10) EPS for the quarter, meeting analysts’ consensus estimates of ($0.10). Cerus had a negative return on equity of 93.16% and a negative net margin of 90.97%. The firm had revenue of $18.61 million for the quarter, compared to analysts’ expectations of $17.60 million. As a group, research analysts expect that Cerus will post -0.42 EPS for the current fiscal year.

In other Cerus news, SVP Carol Moore sold 130,000 shares of the company’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $7.00, for a total transaction of $910,000.00. Following the transaction, the senior vice president now directly owns 241,751 shares in the company, valued at $1,692,257. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chrystal Menard sold 20,351 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $5.67, for a total value of $115,390.17. Following the transaction, the insider now owns 72,206 shares in the company, valued at $409,408.02. The disclosure for this sale can be found here. Insiders have sold 180,376 shares of company stock worth $1,220,553 over the last 90 days. 6.49% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in CERS. Charles Schwab Investment Management Inc. increased its position in shares of Cerus by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 859,531 shares of the biotechnology company’s stock worth $3,628,000 after acquiring an additional 21,787 shares during the period. Bank of New York Mellon Corp increased its position in shares of Cerus by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 591,708 shares of the biotechnology company’s stock worth $2,497,000 after acquiring an additional 14,064 shares during the period. Principal Financial Group Inc. increased its position in shares of Cerus by 6.0% during the first quarter. Principal Financial Group Inc. now owns 42,750 shares of the biotechnology company’s stock worth $199,000 after acquiring an additional 2,434 shares during the period. Swiss National Bank increased its position in shares of Cerus by 14.8% during the first quarter. Swiss National Bank now owns 308,300 shares of the biotechnology company’s stock worth $1,434,000 after acquiring an additional 39,700 shares during the period. Finally, State Street Corp increased its position in shares of Cerus by 1.2% during the first quarter. State Street Corp now owns 4,056,464 shares of the biotechnology company’s stock worth $18,863,000 after acquiring an additional 48,241 shares during the period. Institutional investors own 80.11% 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, a proprietary technology for controlling biological replication that is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.

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