BidaskClub Upgrades Cerus Corporation (CERS) to “Hold”

BidaskClub upgraded shares of Cerus Corporation (NASDAQ:CERS) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

Several other research analysts have also recently weighed in on CERS. BTIG Research reiterated a buy rating and set a $5.00 price target on shares of Cerus Corporation in a research report on Sunday, May 28th. Zacks Investment Research cut Cerus Corporation from a hold rating to a sell rating in a research report on Friday, May 26th. ValuEngine cut Cerus Corporation from a sell rating to a strong sell rating in a research report on Saturday, June 17th. Cantor Fitzgerald reiterated a buy rating and set a $7.00 price target on shares of Cerus Corporation in a research report on Wednesday, June 7th. Finally, Cowen and Company reduced their price target on Cerus Corporation from $9.50 to $7.00 and set an outperform rating for the company in a research report on Monday, April 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $7.25.

Cerus Corporation (CERS) traded up 2.05% during midday trading on Tuesday, reaching $2.49. 536,449 shares of the company traded hands. The stock’s market capitalization is $271.75 million. The firm has a 50-day moving average of $2.36 and a 200-day moving average of $3.36. Cerus Corporation has a 1-year low of $1.93 and a 1-year high of $7.19.

Cerus Corporation (NASDAQ:CERS) last announced its quarterly earnings results on Thursday, August 3rd. The biotechnology company reported ($0.16) earnings per share for the quarter, meeting the consensus estimate of ($0.16). The company had revenue of $9.53 million during the quarter, compared to analysts’ expectations of $9.14 million. Cerus Corporation had a negative return on equity of 120.31% and a negative net margin of 164.39%. Cerus Corporation’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business earned ($0.18) earnings per share. On average, analysts predict that Cerus Corporation will post ($0.68) earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the stock. Elk Creek Partners LLC boosted its stake in Cerus Corporation by 32.3% in the second quarter. Elk Creek Partners LLC now owns 5,739,285 shares of the biotechnology company’s stock worth $14,406,000 after buying an additional 1,402,106 shares during the period. Vanguard Group Inc. boosted its stake in Cerus Corporation by 3.9% in the second quarter. Vanguard Group Inc. now owns 4,892,503 shares of the biotechnology company’s stock worth $12,281,000 after buying an additional 184,076 shares during the period. Wells Fargo & Company MN boosted its stake in Cerus Corporation by 1.8% in the first quarter. Wells Fargo & Company MN now owns 3,222,458 shares of the biotechnology company’s stock worth $14,339,000 after buying an additional 57,854 shares during the period. State Street Corp boosted its stake in Cerus Corporation by 2.2% in the fourth quarter. State Street Corp now owns 1,787,312 shares of the biotechnology company’s stock worth $7,773,000 after buying an additional 37,981 shares during the period. Finally, ARK Investment Management LLC boosted its stake in Cerus Corporation by 126.5% in the second quarter. ARK Investment Management LLC now owns 1,680,925 shares of the biotechnology company’s stock worth $4,219,000 after buying an additional 938,647 shares during the period. Institutional investors and hedge funds own 65.09% of the company’s stock.

About Cerus Corporation

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.

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