Cerus (CERS) Cut to Hold at BidaskClub

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Cerus (NASDAQ:CERS) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other analysts have also recently commented on CERS. Zacks Investment Research cut Cerus from a “hold” rating to a “sell” rating in a research report on Monday, May 14th. ValuEngine upgraded Cerus from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 1st. Cantor Fitzgerald reiterated a “reduce” rating and set a $9.00 price objective on shares of Cerus in a research report on Friday, July 20th. Finally, Cowen set a $10.00 price objective on Cerus and gave the company a “buy” rating in a research report on Friday, August 3rd. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $8.13.

Cerus stock opened at $7.33 on Friday. The firm has a market cap of $1.04 billion, a P/E ratio of -13.09 and a beta of 1.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.03 and a quick ratio of 4.57. Cerus has a one year low of $2.43 and a one year high of $8.05.

Cerus (NASDAQ:CERS) last posted its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $15.42 million during the quarter, compared to analysts’ expectations of $13.58 million. Cerus had a negative return on equity of 82.60% and a negative net margin of 76.37%. Cerus’s revenue for the quarter was up 61.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.16) earnings per share. research analysts anticipate that Cerus will post -0.44 earnings per share for the current year.

In other Cerus news, insider Richard J. Benjamin sold 35,416 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $7.20, for a total value of $254,995.20. Following the completion of the sale, the insider now owns 35,416 shares in the company, valued at $254,995.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevin Dennis Green sold 50,000 shares of the company’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $7.50, for a total value of $375,000.00. Following the completion of the sale, the chief financial officer now owns 110,825 shares of the company’s stock, valued at approximately $831,187.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 88,199 shares of company stock valued at $649,365. Company insiders own 6.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CERS. Rhumbline Advisers increased its position in Cerus by 10.9% in the first quarter. Rhumbline Advisers now owns 107,397 shares of the biotechnology company’s stock worth $589,000 after buying an additional 10,580 shares in the last quarter. Swiss National Bank increased its position in Cerus by 20.3% in the first quarter. Swiss National Bank now owns 221,900 shares of the biotechnology company’s stock worth $1,216,000 after buying an additional 37,500 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Cerus by 27.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 627,912 shares of the biotechnology company’s stock worth $3,441,000 after buying an additional 136,003 shares in the last quarter. Alambic Investment Management L.P. purchased a new stake in Cerus in the first quarter worth about $225,000. Finally, Northern Trust Corp increased its position in Cerus by 10.4% in the first quarter. Northern Trust Corp now owns 1,462,663 shares of the biotechnology company’s stock worth $8,015,000 after buying an additional 138,190 shares in the last quarter. Institutional investors and hedge funds own 59.77% 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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