Cerus (NASDAQ:CERS – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.
Several other brokerages also recently weighed in on CERS. Weiss Ratings reissued a “sell (d-)” rating on shares of Cerus in a research note on Thursday, June 18th. Freedom Broker started coverage on shares of Cerus in a research note on Thursday, August 20th. They set a “buy” rating and a $6.50 price target on the stock. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.25.
Get Our Latest Analysis on CERS
Cerus Stock Performance
Cerus (NASDAQ:CERS – Get Free Report) last announced its earnings results on Thursday, July 30th. The biotechnology company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). Cerus had a negative return on equity of 10.19% and a negative net margin of 3.06%.The firm had revenue of $63.30 million for the quarter, compared to analysts’ expectations of $62.90 million. Sell-side analysts anticipate that Cerus will post -0.04 EPS for the current fiscal year.
Insiders Place Their Bets
In other Cerus news, COO Vivek Jayaraman sold 42,359 shares of Cerus stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $2.94, for a total value of $124,535.46. Following the transaction, the chief operating officer owned 1,694,348 shares in the company, valued at $4,981,383.12. This trade represents a 2.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevin Green sold 33,676 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $2.94, for a total transaction of $99,007.44. Following the sale, the chief financial officer directly owned 1,062,188 shares of the company’s stock, valued at $3,122,832.72. This represents a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 252,737 shares of company stock valued at $737,292. 5.30% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CERS. Globeflex Capital L P acquired a new position in Cerus during the 2nd quarter worth approximately $1,525,000. BlackRock Inc. acquired a new stake in Cerus in the second quarter valued at approximately $64,868,000. Ieq Capital LLC purchased a new stake in shares of Cerus during the second quarter valued at approximately $7,026,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Cerus during the second quarter valued at approximately $1,372,000. Finally, Levin Capital Strategies L.P. acquired a new position in shares of Cerus during the first quarter worth $461,000. Institutional investors and hedge funds own 78.37% of the company’s stock.
Cerus Company Profile
Cerus Corporation is a biomedical products company dedicated to enhancing the safety of blood transfusions worldwide. Its flagship offering, the INTERCEPT Blood System, employs pathogen reduction technology designed to inactivate a broad spectrum of viruses, bacteria, and parasites in donated platelets and plasma. This approach aims to mitigate the risk of transfusion-transmitted infections and improve blood component safety for patients.
The INTERCEPT platform integrates seamlessly into existing blood center workflows, providing a one-step treatment process for collected blood products.
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