Equities analysts expect Cerus Co. (NASDAQ:CERS) to post $17.54 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Cerus’ earnings, with the highest sales estimate coming in at $17.57 million and the lowest estimate coming in at $17.50 million. Cerus posted sales of $15.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.9%. The business is scheduled to report its next earnings results on Thursday, November 7th.
According to Zacks, analysts expect that Cerus will report full year sales of $72.68 million for the current financial year, with estimates ranging from $72.60 million to $72.76 million. For the next financial year, analysts expect that the company will post sales of $89.05 million, with estimates ranging from $85.30 million to $92.80 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Cerus.
Cerus (NASDAQ:CERS) last issued its earnings results on Thursday, August 1st. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the 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 net margin of 98.69% and a negative return on equity of 85.73%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the business posted ($0.10) EPS.
Several brokerages recently issued reports on CERS. Stifel Nicolaus began coverage on Cerus in a research note on Tuesday, August 27th. They set a “buy” rating and a $7.00 target price on the stock. BidaskClub downgraded Cerus from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Stephens began coverage on Cerus in a research note on Thursday, August 22nd. They set an “overweight” rating and a $8.00 target price on the stock. Zacks Investment Research raised Cerus from a “sell” rating to a “hold” rating in a research note on Monday, October 7th. Finally, ValuEngine raised Cerus from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $7.63.
CERS traded up $0.02 on Wednesday, hitting $4.49. 589,108 shares of the company’s stock traded hands, compared to its average volume of 860,230. The company’s 50 day simple moving average is $4.91 and its 200-day simple moving average is $5.33. The firm has a market cap of $627.23 million, a price-to-earnings ratio of -10.19 and a beta of 1.64. Cerus has a one year low of $4.29 and a one year high of $6.88. The company has a current ratio of 2.67, a quick ratio of 2.33 and a debt-to-equity ratio of 0.88.
In other Cerus news, Director Timothy B. Anderson sold 18,795 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $5.40, for a total transaction of $101,493.00. Following the completion of the transaction, the director now owns 177,649 shares in the company, valued at approximately $959,304.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Carol Moore sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $159,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 74,903 shares of company stock valued at $394,513 in the last 90 days. 7.26% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA grew its holdings in Cerus by 4.6% during the 2nd quarter. Primecap Management Co. CA now owns 11,300,000 shares of the biotechnology company’s stock valued at $63,506,000 after buying an additional 500,000 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Cerus by 2.0% in the 2nd quarter. BlackRock Inc. now owns 10,983,209 shares of the biotechnology company’s stock worth $61,727,000 after purchasing an additional 211,548 shares during the period. ARK Investment Management LLC boosted its holdings in shares of Cerus by 11.2% in the 2nd quarter. ARK Investment Management LLC now owns 8,493,022 shares of the biotechnology company’s stock worth $47,731,000 after purchasing an additional 853,589 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Cerus by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 7,006,902 shares of the biotechnology company’s stock worth $39,378,000 after purchasing an additional 23,356 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Cerus by 444.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,049,385 shares of the biotechnology company’s stock worth $28,378,000 after purchasing an additional 4,121,845 shares during the period. Institutional investors and hedge funds own 72.93% of the company’s stock.
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.
Featured Article: Understanding debt-to-equity ratio in fundamental analysis
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.