Cerus Co. (CERS) Cut to Sell at Zacks Investment Research

Cerus Co. (CERS) Cut to Sell at Zacks Investment Research

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. “

Zacks Investment Research lowered shares of Cerus Co. (NASDAQ:CERS) from a hold rating to a sell rating in a research note published on Friday morning.

Other equities analysts have also recently issued research reports about the stock. BTIG Research reaffirmed a buy rating and set a $8.00 price objective on shares of Cerus in a research note on Thursday, February 23rd. FBR & Co set a $10.00 price objective on shares of Cerus and gave the company a buy rating in a research note on Wednesday, March 8th. Cantor Fitzgerald set a $7.00 price objective on shares of Cerus and gave the company a buy rating in a research note on Tuesday, May 23rd. Finally, Cowen and Company reduced their price objective on shares of Cerus from $9.50 to $7.00 and set an outperform rating for the company in a research note on Monday, April 17th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Cerus has an average rating of Buy and an average target price of $7.80.

Shares of Cerus (CERS) opened at 2.29 on Friday. The company’s market cap is $238.02 million. The firm has a 50-day moving average of $3.49 and a 200-day moving average of $4.26. Cerus has a 12-month low of $1.93 and a 12-month high of $7.64.

Cerus (NASDAQ:CERS) last posted its earnings results on Thursday, May 4th. The biotechnology company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by $0.02. The business had revenue of $7.01 million during the quarter, compared to analysts’ expectations of $8.98 million. Cerus had a negative return on equity of 76.76% and a negative net margin of 174.76%. Analysts predict that Cerus will post ($0.64) EPS for the current year.

In related news, insider William Mariner Greenman sold 8,786 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $4.21, for a total transaction of $36,989.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 14,695 shares of company stock valued at $61,652. 6.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of CERS. Marathon Capital Management boosted its position in shares of Cerus by 32.4% in the first quarter. Marathon Capital Management now owns 24,500 shares of the biotechnology company’s stock valued at $109,000 after buying an additional 6,000 shares in the last quarter. Budros Ruhlin & Roe Inc. raised its stake in shares of Cerus by 41.7% in the first quarter. Budros Ruhlin & Roe Inc. now owns 25,470 shares of the biotechnology company’s stock valued at $113,000 after buying an additional 7,500 shares during the last quarter. Bellevue Group AG bought a new stake in shares of Cerus during the first quarter valued at about $134,000. Nuveen Fund Advisors LLC raised its stake in shares of Cerus by 5.5% in the third quarter. Nuveen Fund Advisors LLC now owns 21,788 shares of the biotechnology company’s stock valued at $135,000 after buying an additional 1,138 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Cerus during the first quarter valued at about $137,000. 68.91% of the stock is owned by institutional investors.

Cerus 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CERS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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