Zacks Investment Research lowered shares of Cerus (NASDAQ:CERS) from a hold rating to a sell rating in a research report released on Monday.
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. “
CERS has been the topic of a number of other reports. BidaskClub upgraded Cerus from a strong sell rating to a sell rating in a research note on Saturday, October 27th. ValuEngine downgraded Cerus from a strong-buy rating to a buy rating in a research report on Monday, November 12th. Finally, Cantor Fitzgerald reissued a buy rating and set a $9.00 target price on shares of Cerus in a research report on Monday, December 10th. 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 a consensus target price of $9.00.
Shares of Cerus stock traded down $0.11 during trading on Monday, reaching $5.58. The company’s stock had a trading volume of 22,767 shares, compared to its average volume of 874,544. The company has a debt-to-equity ratio of 0.26, a quick ratio of 3.17 and a current ratio of 3.48. The firm has a market capitalization of $774.78 million, a PE ratio of -10.11 and a beta of 1.33. Cerus has a one year low of $3.77 and a one year high of $8.05.
Cerus (NASDAQ:CERS) last posted its quarterly earnings data on Thursday, November 1st. The biotechnology company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). The business had revenue of $15.40 million for the quarter, compared to analyst estimates of $15.40 million. Cerus had a negative return on equity of 68.90% and a negative net margin of 74.95%. The firm’s revenue for the quarter was up 42.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.12) earnings per share. Research analysts forecast that Cerus will post -0.43 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in CERS. First Quadrant L P CA acquired a new stake in Cerus during the third quarter worth about $112,000. Mackenzie Financial Corp acquired a new stake in Cerus during the third quarter worth about $119,000. Paloma Partners Management Co acquired a new stake in Cerus during the second quarter worth about $150,000. Prudential Financial Inc. grew its position in Cerus by 110.2% during the third quarter. Prudential Financial Inc. now owns 25,403 shares of the biotechnology company’s stock worth $183,000 after buying an additional 13,320 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in Cerus during the third quarter worth about $217,000. 60.58% of the stock is currently 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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