Zacks Investment Research Downgrades Cerus (NASDAQ:CERS) to Sell

Zacks Investment Research cut shares of Cerus (NASDAQ:CERS) from a hold rating to a sell rating in a research note published on Wednesday, Zacks.com reports.

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. “

A number of other analysts have also recently commented on CERS. ValuEngine cut Xylem from a buy rating to a hold rating in a research report on Tuesday, May 14th. BidaskClub cut Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $8.50.

Cerus stock opened at $5.51 on Wednesday. The stock’s 50-day moving average is $5.01. Cerus has a 52 week low of $4.49 and a 52 week high of $8.05. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.83 and a quick ratio of 2.50.

Cerus (NASDAQ:CERS) last posted its quarterly earnings data on Tuesday, May 7th. The biotechnology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The company had revenue of $17.50 million for the quarter, compared to analysts’ expectations of $15.31 million. Cerus had a negative return on equity of 74.31% and a negative net margin of 90.68%. The company’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.11) EPS. As a group, sell-side analysts forecast that Cerus will post -0.45 earnings per share for the current year.

In other Cerus news, insider William Mariner Greenman purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were purchased at an average cost of $4.60 per share, with a total value of $46,000.00. Following the purchase, the insider now owns 638,485 shares in the company, valued at $2,937,031. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.26% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in Cerus by 1.2% in the 4th quarter. BlackRock Inc. now owns 10,794,407 shares of the biotechnology company’s stock worth $54,727,000 after buying an additional 123,643 shares during the last quarter. ARK Investment Management LLC boosted its stake in Cerus by 13.3% in the 1st quarter. ARK Investment Management LLC now owns 7,639,433 shares of the biotechnology company’s stock worth $47,594,000 after buying an additional 898,651 shares during the last quarter. Norges Bank acquired a new stake in Cerus in the 4th quarter worth about $12,997,000. Geode Capital Management LLC boosted its stake in Cerus by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 1,516,092 shares of the biotechnology company’s stock worth $7,685,000 after buying an additional 78,401 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Cerus by 118.1% in the 4th quarter. Millennium Management LLC now owns 1,267,355 shares of the biotechnology company’s stock worth $6,425,000 after buying an additional 686,333 shares during the last quarter. 65.50% of the stock is currently owned by hedge funds and other institutional investors.

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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