Cerus (NASDAQ:CERS) Shares Gap Up to $5.16

Cerus Co. (NASDAQ:CERS) shares gapped up before the market opened on Tuesday . The stock had previously closed at $5.30, but opened at $5.16. Cerus shares last traded at $4.93, with a volume of 72,784 shares traded.

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

The company has a debt-to-equity ratio of 0.88, a current ratio of 2.67 and a quick ratio of 2.33. The company has a market cap of $722.65 million, a P/E ratio of -11.05 and a beta of 1.62. The stock has a 50-day moving average of $5.24 and a 200 day moving average of $5.50.

Cerus (NASDAQ:CERS) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.13) EPS for the quarter, missing the Zacks’ 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 company 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 business posted ($0.10) EPS. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. Sell-side analysts predict that Cerus Co. will post -0.48 EPS for the current year.

In other Cerus news, insider Richard J. Benjamin sold 16,444 shares of Cerus stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $5.01, for a total value of $82,384.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Carol Moore sold 30,000 shares of Cerus stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.33, for a total value of $159,900.00. The disclosure for this sale can be found here. Insiders sold 74,903 shares of company stock worth $394,513 in the last 90 days. 7.26% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in CERS. Sumitomo Mitsui Trust Holdings Inc. grew its position in Cerus by 444.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,049,385 shares of the biotechnology company’s stock valued at $28,378,000 after acquiring an additional 4,121,845 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position in Cerus by 434.1% in the second quarter. Nikko Asset Management Americas Inc. now owns 5,049,385 shares of the biotechnology company’s stock valued at $28,378,000 after acquiring an additional 4,103,996 shares during the last quarter. ARK Investment Management LLC grew its position in Cerus by 13.3% in the first quarter. ARK Investment Management LLC now owns 7,639,433 shares of the biotechnology company’s stock valued at $47,594,000 after acquiring an additional 898,651 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Cerus by 147.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 1,503,500 shares of the biotechnology company’s stock valued at $8,449,000 after acquiring an additional 896,994 shares during the last quarter. Finally, Kennedy Capital Management Inc. acquired a new stake in shares of Cerus during the first quarter valued at about $5,109,000. Hedge funds and other institutional investors own 72.94% of the company’s stock.

Cerus Company Profile (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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