Cerus (NASDAQ:CERS) Upgraded by Zacks Investment Research to Hold

Cerus (NASDAQ:CERS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, 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. “

CERS has been the subject of a number of other reports. ValuEngine upgraded shares of Cerus from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. BidaskClub upgraded shares of Cerus from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st.

NASDAQ:CERS traded up $0.03 during trading hours on Tuesday, reaching $5.06. 1,309,510 shares of the company’s stock were exchanged, compared to its average volume of 880,777. The stock has a market cap of $736.04 million, a P/E ratio of -11.50 and a beta of 1.60. Cerus has a 12 month low of $4.49 and a 12 month high of $7.81. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.67 and a quick ratio of 2.33. The stock has a 50-day moving average price of $5.39.

Cerus (NASDAQ:CERS) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.01). The business had revenue of $18.20 million for the quarter, compared to the consensus estimate of $17.55 million. Cerus had a negative return on equity of 85.73% and a negative net margin of 98.69%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.10) earnings per share. On average, sell-side analysts forecast that Cerus will post -0.45 EPS for the current year.

In other news, insider William Mariner Greenman acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average price of $4.60 per share, with a total value of $46,000.00. Following the purchase, the insider now owns 638,485 shares of the company’s stock, valued at approximately $2,937,031. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 7.26% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Raymond James Trust N.A. boosted its stake in Cerus by 57.1% in the 2nd quarter. Raymond James Trust N.A. now owns 22,000 shares of the biotechnology company’s stock worth $124,000 after purchasing an additional 8,000 shares during the period. Peregrine Capital Management LLC boosted its stake in Cerus by 13.4% in the 2nd quarter. Peregrine Capital Management LLC now owns 2,194,628 shares of the biotechnology company’s stock worth $12,334,000 after purchasing an additional 259,932 shares during the period. 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 purchasing an additional 78,401 shares during the period. Norges Bank acquired a new position in Cerus in the 4th quarter worth approximately $12,997,000. Finally, Bank of America Corp DE boosted its stake in Cerus by 12.9% in the 4th quarter. Bank of America Corp DE now owns 535,458 shares of the biotechnology company’s stock worth $2,714,000 after purchasing an additional 61,275 shares during the period. 72.14% of the stock is 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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