Cerus (NASDAQ:CERS – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.
Several other brokerages also recently commented on CERS. Freedom Broker initiated coverage on Cerus in a report on Thursday, August 20th. They set a “buy” rating and a $6.50 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Cerus in a research report on Monday, September 14th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $5.25.
Read Our Latest Stock Report on Cerus
Cerus Stock Performance
Shares of NASDAQ CERS opened at $2.02 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.15 and a current ratio of 1.96. Cerus has a 52-week low of $1.42 and a 52-week high of $3.47. The firm has a 50 day moving average price of $2.42 and a two-hundred day moving average price of $2.44. The stock has a market cap of $407.94 million, a P/E ratio of -67.33 and a beta of 1.84.
Insider Buying and Selling at Cerus
In related news, insider Chrystal Jensen sold 30,000 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $2.98, for a total transaction of $89,400.00. Following the sale, the insider owned 936,657 shares in the company, valued at $2,791,237.86. This represents a 3.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.30% of the company’s stock.
Institutional Trading of Cerus
Several large investors have recently modified their holdings of CERS. StoneX Group Inc. bought a new stake in shares of Cerus during the third quarter worth about $33,000. Corient Private Wealth LP boosted its stake in Cerus by 48.6% during the 2nd quarter. Corient Private Wealth LP now owns 15,064 shares of the biotechnology company’s stock valued at $44,000 after purchasing an additional 4,926 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Cerus during the 1st quarter valued at about $35,000. Legal & General Group Plc bought a new stake in Cerus during the 2nd quarter worth approximately $56,000. Finally, R Squared Ltd increased its holdings in Cerus by 62.6% during the 3rd quarter. R Squared Ltd now owns 20,650 shares of the biotechnology company’s stock worth $49,000 after purchasing an additional 7,950 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company’s stock.
Cerus Company Profile
Cerus Corporation is a biomedical products company focused on improving the safety of blood transfusions. Headquartered in Concord, California, the company develops and commercializes technologies designed to reduce the risk of transfusion-transmitted infections and other threats to the blood supply.
Its principal product platform is the INTERCEPT Blood System, which uses pathogen-reduction technology to treat donated blood components. The system is available for platelets and plasma in multiple markets and is designed to inactivate a broad range of viruses, bacteria, parasites and other pathogens.
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