Cerus (NASDAQ:CERS) Trading 6.1% Higher

Cerus Co. (NASDAQ:CERS)’s share price traded up 6.1% during mid-day trading on Monday . The stock traded as high as $5.32 and last traded at $5.16, 2,380,099 shares traded hands during mid-day trading. An increase of 177% from the average session volume of 858,134 shares. The stock had previously closed at $4.86.

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus assumed coverage on shares of Cerus in a report on Tuesday, August 27th. They issued a “buy” rating and a $7.00 target price for the company. Stephens assumed coverage on shares of Cerus in a report on Thursday, August 22nd. They issued an “overweight” rating and a $8.00 target price for the company. ValuEngine lowered shares of Cerus from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Zacks Investment Research raised shares of Cerus from a “sell” rating to a “hold” rating in a report on Monday. Finally, BidaskClub lowered shares of Cerus from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $7.63.

The company has a current ratio of 2.67, a quick ratio of 2.33 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $693.89 million, a P/E ratio of -11.72 and a beta of 1.62. The company has a 50 day simple moving average of $5.26 and a two-hundred day simple moving average of $5.53.

Cerus (NASDAQ:CERS) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.01). Cerus had a negative return on equity of 85.73% and a negative net margin of 98.69%. The business had revenue of $18.20 million during the quarter, compared to the consensus estimate of $17.55 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, sell-side analysts expect that Cerus Co. will post -0.48 EPS for the current fiscal year.

In other Cerus news, SVP Carol Moore sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.33, for a total value of $159,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy B. Anderson sold 18,795 shares of the company’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 value of $101,493.00. Following the completion of the transaction, the director now owns 177,649 shares of the company’s stock, valued at $959,304.60. The disclosure for this sale can be found here. Insiders sold a total of 74,903 shares of company stock valued at $394,513 over the last 90 days. 7.26% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. boosted its position in shares of Cerus by 57.1% during the 2nd quarter. Raymond James Trust N.A. now owns 22,000 shares of the biotechnology company’s stock valued at $124,000 after acquiring an additional 8,000 shares during the last quarter. Primecap Management Co. CA boosted its position in shares of 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 acquiring an additional 500,000 shares during the last quarter. Peregrine Capital Management LLC boosted its position in shares of Cerus by 13.4% during the 2nd quarter. Peregrine Capital Management LLC now owns 2,194,628 shares of the biotechnology company’s stock valued at $12,334,000 after acquiring an additional 259,932 shares during the last quarter. Fosun International Ltd boosted its position in shares of Cerus by 34.2% during the 2nd quarter. Fosun International Ltd now owns 669,245 shares of the biotechnology company’s stock valued at $3,306,000 after acquiring an additional 170,707 shares during the last quarter. Finally, ARK Investment Management LLC boosted its position in shares of Cerus by 11.2% during the 2nd quarter. ARK Investment Management LLC now owns 8,493,022 shares of the biotechnology company’s stock valued at $47,731,000 after acquiring an additional 853,589 shares during the last quarter. Hedge funds and other institutional investors own 72.94% of the company’s stock.

About Cerus (NASDAQ:CERS)

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.

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