ValuEngine Lowers Cerus Corporation (NASDAQ:CERS) to Strong Sell

Cerus Corporation (NASDAQ:CERS) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Friday, September 1st.

Other analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Cerus Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Cantor Fitzgerald reiterated a “buy” rating and issued a $7.00 price target on shares of Cerus Corporation in a research note on Wednesday, June 7th. Zacks Investment Research cut shares of Cerus Corporation from a “hold” rating to a “sell” rating in a research note on Friday, May 26th. Finally, BTIG Research reiterated a “buy” rating and issued a $5.00 price target on shares of Cerus Corporation in a research note on Sunday, May 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $7.25.

Shares of Cerus Corporation (CERS) traded down 1.13% during trading on Friday, reaching $2.63. 1,218,505 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $2.49 and its 200-day moving average price is $3.08. The stock’s market cap is $287.03 million. Cerus Corporation has a 52-week low of $1.93 and a 52-week high of $6.59.

Cerus Corporation (NASDAQ:CERS) last announced its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.16) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.16). Cerus Corporation had a negative net margin of 164.39% and a negative return on equity of 120.31%. The firm had revenue of $9.53 million for the quarter, compared to analysts’ expectations of $9.14 million. During the same quarter in the previous year, the business posted ($0.18) EPS. The company’s quarterly revenue was up 3.0% on a year-over-year basis. On average, equities research analysts forecast that Cerus Corporation will post ($0.68) EPS for the current year.

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In other Cerus Corporation news, insider Laurence M. Corash purchased 92,796 shares of Cerus Corporation stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $2.45 per share, with a total value of $227,350.20. Following the transaction, the insider now directly owns 1,375,711 shares of the company’s stock, valued at $3,370,491.95. The purchase was disclosed in a document filed with the SEC, which is available through this link. 7.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of Cerus Corporation by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,994 shares of the biotechnology company’s stock valued at $221,000 after purchasing an additional 4,688 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Cerus Corporation by 8.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 106,495 shares of the biotechnology company’s stock valued at $267,000 after purchasing an additional 7,864 shares during the last quarter. Bamco Inc. NY increased its position in shares of Cerus Corporation by 20.8% during the 2nd quarter. Bamco Inc. NY now owns 560,900 shares of the biotechnology company’s stock valued at $1,408,000 after purchasing an additional 96,600 shares during the last quarter. Voya Investment Management LLC increased its position in shares of Cerus Corporation by 22.0% during the 2nd quarter. Voya Investment Management LLC now owns 58,633 shares of the biotechnology company’s stock valued at $147,000 after purchasing an additional 10,570 shares during the last quarter. Finally, Virtu KCG Holdings LLC increased its position in shares of Cerus Corporation by 84.1% during the 2nd quarter. Virtu KCG Holdings LLC now owns 80,183 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 36,635 shares during the last quarter. 58.74% of the stock is owned by hedge funds and other institutional investors.

About Cerus Corporation

Cerus Corporation is a biomedical products company. The Company is engaged in developing and commercializing the INTERCEPT Blood System for blood safety. The Company operates through blood safety segment. The Company’s INTERCEPT Blood System is based on its technology for controlling biological replication, and is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.

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