Cerus (NASDAQ:CERS) Upgraded by BidaskClub to “Buy”

BidaskClub upgraded shares of Cerus (NASDAQ:CERS) from a hold rating to a buy rating in a report issued on Saturday morning, BidAskClub reports.

CERS has been the topic of a number of other reports. Stifel Nicolaus lifted their price target on Cerus from $7.00 to $8.00 and gave the company a buy rating in a report on Wednesday, May 27th. Stephens cut their price target on Cerus from $7.50 to $6.50 and set an overweight rating on the stock in a report on Thursday, April 16th. Cantor Fitzgerald initiated coverage on Cerus in a report on Monday, June 15th. They issued a buy rating and a $9.00 price target on the stock. Finally, Zacks Investment Research downgraded Cerus from a buy rating to a hold rating in a report on Thursday, June 18th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $7.40.

Shares of NASDAQ CERS opened at $6.60 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.47 and a current ratio of 3.95. The business’s 50 day moving average price is $6.05 and its 200-day moving average price is $5.02. Cerus has a fifty-two week low of $2.71 and a fifty-two week high of $7.17. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -13.75 and a beta of 1.27.

Cerus (NASDAQ:CERS) last released its quarterly earnings data on Tuesday, May 5th. The biotechnology company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). The company had revenue of $18.61 million for the quarter, compared to the consensus estimate of $17.60 million. Cerus had a negative return on equity of 93.16% and a negative net margin of 90.97%. Sell-side analysts predict that Cerus will post -0.42 earnings per share for the current year.

In other news, SVP Carol Moore sold 130,000 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $7.00, for a total value of $910,000.00. Following the completion of the sale, the senior vice president now owns 241,751 shares of the company’s stock, valued at approximately $1,692,257. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Chrystal Menard sold 20,351 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $5.67, for a total value of $115,390.17. Following the completion of the sale, the insider now directly owns 72,206 shares of the company’s stock, valued at approximately $409,408.02. The disclosure for this sale can be found here. Insiders sold a total of 180,376 shares of company stock valued at $1,220,553 in the last three months. Insiders own 6.49% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its position in shares of Cerus by 960.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 6,360 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 5,760 shares in the last quarter. CVA Family Office LLC acquired a new stake in Cerus during the 4th quarter worth about $42,000. Great West Life Assurance Co. Can acquired a new stake in Cerus during the 4th quarter worth about $44,000. Ameritas Investment Partners Inc. lifted its position in Cerus by 16.9% during the 1st quarter. Ameritas Investment Partners Inc. now owns 12,550 shares of the biotechnology company’s stock worth $58,000 after acquiring an additional 1,812 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in Cerus during the 1st quarter worth about $59,000. 80.11% 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.

See Also: What is a bull market?

Receive News & Ratings for Cerus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cerus and related companies with MarketBeat.com's FREE daily email newsletter.