Cerus (CERS) Lowered to “Strong Sell” at BidaskClub

BidaskClub downgraded shares of Cerus (NASDAQ:CERS) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday.

Several other research firms have also commented on CERS. Cantor Fitzgerald restated a buy rating and set a $9.00 price target on shares of Cerus in a research report on Thursday, August 2nd. Zacks Investment Research lowered shares of Cerus from a buy rating to a hold rating in a research report on Friday, October 5th. Finally, Cowen set a $10.00 price target on shares of Cerus and gave the company a buy rating in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Cerus has an average rating of Buy and a consensus price target of $8.00.

Shares of Cerus stock opened at $5.73 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.48 and a quick ratio of 3.17. Cerus has a 1 year low of $3.35 and a 1 year high of $8.05. The firm has a market cap of $800.57 million, a P/E ratio of -10.23 and a beta of 1.54.

Cerus (NASDAQ:CERS) last issued its earnings results on Thursday, November 1st. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.11). Cerus had a negative net margin of 74.95% and a negative return on equity of 68.90%. The firm had revenue of $15.40 million during the quarter, compared to analysts’ expectations of $15.40 million. During the same quarter last year, the company posted ($0.12) earnings per share. The firm’s revenue was up 42.6% compared to the same quarter last year. As a group, equities analysts anticipate that Cerus will post -0.43 earnings per share for the current fiscal year.

In related news, CFO Kevin Dennis Green sold 50,000 shares of the firm’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $7.50, for a total transaction of $375,000.00. Following the sale, the chief financial officer now owns 110,825 shares in the company, valued at $831,187.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Richard J. Benjamin sold 35,416 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $7.20, for a total transaction of $254,995.20. Following the sale, the insider now owns 35,416 shares in the company, valued at approximately $254,995.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,982 shares of company stock worth $667,093. 6.80% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in CERS. BlackRock Inc. grew its position in Cerus by 9.6% during the second quarter. BlackRock Inc. now owns 10,405,997 shares of the biotechnology company’s stock valued at $69,408,000 after buying an additional 909,836 shares during the period. Millennium Management LLC grew its position in shares of Cerus by 103.7% in the first quarter. Millennium Management LLC now owns 1,740,398 shares of the biotechnology company’s stock valued at $9,537,000 after purchasing an additional 886,056 shares during the period. ARK Investment Management LLC grew its position in shares of Cerus by 14.1% in the third quarter. ARK Investment Management LLC now owns 6,499,032 shares of the biotechnology company’s stock valued at $46,858,000 after purchasing an additional 803,661 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of Cerus in the third quarter valued at about $4,815,000. Finally, Lesa Sroufe & Co acquired a new stake in shares of Cerus in the second quarter valued at about $3,824,000. Institutional investors own 59.49% 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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