Cantor Fitzgerald Reiterates Buy Rating for Cerus (CERS)

Cerus (NASDAQ:CERS)‘s stock had its “buy” rating restated by investment analysts at Cantor Fitzgerald in a research report issued on Thursday. They currently have a $9.00 price target on the biotechnology company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 21.46% from the company’s current price.

The analysts wrote, “: We reiterate our Overweight rating and $9 PT on shares of CERS. CERS reported 2Q product revenue of $15MM (+62%), beating the Street by $2MM. CERS raised its 2018 product revenue guidance by $3MM to $56-58MM (from $53-55MM), representing growth of 29-33%. The strong revenue growth was driven by growing global platelet kit demand, notably in France and the US. We think France and Germany remain CERS’s greatest opportunities in the near term as it builds adoption in the US. We think guidance will likely be conservative, and we would not be surprised to see another beat and raise.””

Several other research firms have also issued reports on CERS. Zacks Investment Research raised Cerus from a “hold” rating to a “buy” rating and set a $6.00 price objective for the company in a research note on Wednesday, April 4th. BidaskClub lowered Cerus from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 28th. ValuEngine raised Cerus from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Finally, BTIG Research reaffirmed a “hold” rating on shares of Cerus in a research note on Wednesday, May 9th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $7.13.

Cerus stock traded down $0.06 during midday trading on Thursday, reaching $7.41. 715,700 shares of the stock traded hands, compared to its average volume of 1,208,630. Cerus has a 12 month low of $2.14 and a 12 month high of $7.93. The firm has a market cap of $967.34 million, a PE ratio of -13.23 and a beta of 1.62. The company has a current ratio of 5.66, a quick ratio of 5.10 and a debt-to-equity ratio of 0.33.

Cerus (NASDAQ:CERS) last announced its quarterly earnings results on Tuesday, May 8th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. Cerus had a negative return on equity of 111.19% and a negative net margin of 111.46%. The company had revenue of $13.56 million during the quarter, compared to analyst estimates of $12.22 million. During the same period in the prior year, the company earned ($0.18) earnings per share. The firm’s revenue was up 93.4% on a year-over-year basis. equities research analysts forecast that Cerus will post -0.45 earnings per share for the current fiscal year.

In other news, SVP Carol Moore sold 75,000 shares of the stock in a transaction that occurred on Tuesday, June 5th. The stock was sold at an average price of $6.72, for a total value of $504,000.00. Following the sale, the senior vice president now directly owns 46,363 shares in the company, valued at $311,559.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gail Schulze sold 52,500 shares of the stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $6.65, for a total value of $349,125.00. Following the completion of the sale, the director now owns 40,986 shares in the company, valued at $272,556.90. The disclosure for this sale can be found here. Insiders sold a total of 292,972 shares of company stock valued at $1,913,341 over the last ninety days. Corporate insiders own 6.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CERS. Bank of New York Mellon Corp raised its holdings in shares of Cerus by 2.8% in the fourth quarter. Bank of New York Mellon Corp now owns 470,437 shares of the biotechnology company’s stock worth $1,590,000 after buying an additional 12,944 shares during the period. BlackRock Inc. increased its holdings in Cerus by 1.8% during the 4th quarter. BlackRock Inc. now owns 8,485,711 shares of the biotechnology company’s stock worth $28,682,000 after purchasing an additional 150,587 shares during the period. Geode Capital Management LLC increased its holdings in Cerus by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 990,324 shares of the biotechnology company’s stock worth $3,347,000 after purchasing an additional 76,592 shares during the period. Goldman Sachs Group Inc. increased its holdings in Cerus by 202.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 313,247 shares of the biotechnology company’s stock worth $1,058,000 after purchasing an additional 209,531 shares during the period. Finally, Two Sigma Investments LP purchased a new position in Cerus during the 4th quarter worth $249,000. Hedge funds and other institutional investors own 59.60% of the company’s stock.

Cerus Company Profile

Cerus Corporation, a biomedical products company, focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System is based on its proprietary technology for controlling biological replication; and targets and inactivates blood-borne pathogens, such as viruses, bacteria, and parasites, as well as harmful white blood cells, while preserving the therapeutic properties of platelet, plasma, and red blood cell transfusion products.

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