Cerus (NASDAQ:CERS) Upgraded at BidaskClub

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

A number of other brokerages also recently commented on CERS. ValuEngine upgraded Cerus from a hold rating to a buy rating in a research note on Tuesday, July 23rd. Zacks Investment Research downgraded Cerus from a hold rating to a sell rating in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $8.50.

Shares of CERS stock traded down $0.51 on Wednesday, hitting $5.34. 1,647,833 shares of the stock traded hands, compared to its average volume of 792,261. The company has a quick ratio of 2.50, a current ratio of 2.83 and a debt-to-equity ratio of 0.85. The company has a market cap of $806.34 million, a P/E ratio of -12.14 and a beta of 1.60. Cerus has a 1-year low of $4.49 and a 1-year high of $8.05. The stock’s fifty day moving average is $5.35.

Cerus (NASDAQ:CERS) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.01). The firm had revenue of $18.20 million for the quarter, compared to analyst estimates of $17.55 million. Cerus had a negative net margin of 90.68% and a negative return on equity of 74.31%. The business’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.10) earnings per share. On average, analysts predict that Cerus will post -0.45 earnings per share for the current fiscal year.

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

A number of institutional investors and hedge funds have recently modified their holdings of CERS. Aperio Group LLC bought a new position in Cerus during the 2nd quarter worth $27,000. Virtu Financial LLC grew its stake in shares of Cerus by 16.6% in the first quarter. Virtu Financial LLC now owns 12,639 shares of the biotechnology company’s stock worth $79,000 after purchasing an additional 1,798 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Cerus by 141.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 19,824 shares of the biotechnology company’s stock worth $97,000 after purchasing an additional 11,624 shares in the last quarter. Amalgamated Bank bought a new position in shares of Cerus in the fourth quarter worth $99,000. Finally, SG Americas Securities LLC grew its stake in shares of Cerus by 23.9% in the first quarter. SG Americas Securities LLC now owns 16,317 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 3,151 shares in the last quarter. Hedge funds and other institutional investors own 66.21% 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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