Cerus (NASDAQ:CERS) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Cerus from “Buy” to “Hold,” bringing the analyst consensus to “Hold” with an average price target of $4.00.
• Cerus shares were trading up 4.9% at $2.98, while the company reported quarterly revenue of $63.3 million and an EPS loss of $0.01, in line with expectations.
• Company insiders sold 239,404 shares worth approximately $697,893 over the past 90 days, though the sales were made to cover tax obligations tied to equity vesting; institutional investors own 78.37% of the stock.

Cerus (NASDAQ:CERS - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

CERS has been the topic of a number of other research reports. Zacks Research upgraded Cerus from a "strong sell" rating to a "hold" rating in a report on Thursday, April 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cerus in a report on Thursday, June 18th. Finally, BTIG Research upgraded shares of Cerus from a "neutral" rating to a "buy" rating and set a $4.00 target price for the company in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $4.00.

Cerus Trading Up 4.9%

CERS stock opened at $2.98 on Friday. Cerus has a 12-month low of $1.15 and a 12-month high of $3.47. The business's 50-day moving average is $2.80 and its 200 day moving average is $2.43. The company has a current ratio of 1.83, a quick ratio of 1.07 and a debt-to-equity ratio of 0.49. The stock has a market cap of $600.53 million, a price-to-earnings ratio of -99.33 and a beta of 1.81.

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). The business had revenue of $63.30 million during the quarter, compared to analysts' expectations of $62.90 million. Cerus had a negative return on equity of 10.19% and a negative net margin of 3.06%. On average, sell-side analysts anticipate that Cerus will post -0.04 EPS for the current fiscal year.

Insider Transactions at Cerus

In other Cerus news, CFO Kevin Dennis Green sold 33,676 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $2.94, for a total transaction of $99,007.44. Following the transaction, the chief financial officer owned 1,062,188 shares of the company's stock, valued at approximately $3,122,832.72. The trade was a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Mariner Greenman sold 101,919 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $2.94, for a total value of $299,641.86. Following the completion of the sale, the chief executive officer owned 5,053,036 shares of the company's stock, valued at approximately $14,855,925.84. The trade was a 1.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 239,404 shares of company stock valued at $697,893. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cerus

A number of hedge funds have recently modified their holdings of the company. Cibc World Markets Corp acquired a new stake in Cerus during the fourth quarter worth about $25,000. CIBC Bancorp USA Inc. acquired a new position in Cerus in the 3rd quarter valued at about $31,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Cerus in the 1st quarter valued at approximately $32,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Cerus in the 1st quarter valued at approximately $35,000. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Cerus during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors 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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