Key Points
- Insider sale: Cerus director Eric Bjerkholt sold 20,454 shares on June 9 at an average price of $2.60, totaling about $53,180. After the sale, he still held 261,679 shares, a 7.25% reduction in ownership.
- Recent earnings beat: Cerus reported a quarterly loss of $0.01 per share, beating analyst expectations of a $0.03 loss. Revenue came in at $59.89 million, ahead of estimates of $55.68 million.
- Analyst sentiment remains mixed: The stock currently has an average Hold rating and a $4.00 price target, with two Buy ratings, one Hold, and one Sell among recent analyst calls.
Cerus Corporation (NASDAQ:CERS - Get Free Report) Director Eric Bjerkholt sold 20,454 shares of Cerus stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $2.60, for a total value of $53,180.40. Following the completion of the sale, the director owned 261,679 shares in the company, valued at approximately $680,365.40. This trade represents a 7.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Cerus Price Performance
CERS stock opened at $2.59 on Friday. Cerus Corporation has a 1 year low of $1.15 and a 1 year high of $3.15. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.06 and a current ratio of 1.63. The stock's 50 day moving average price is $2.34 and its 200 day moving average price is $2.20. The firm has a market cap of $518.96 million, a P/E ratio of -51.80 and a beta of 1.77.
Cerus (NASDAQ:CERS - Get Free Report) last posted its earnings results on Thursday, April 30th. The biotechnology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.02. Cerus had a negative return on equity of 15.18% and a negative net margin of 4.41%.The firm had revenue of $59.89 million for the quarter, compared to analyst estimates of $55.68 million. On average, sell-side analysts expect that Cerus Corporation will post -0.02 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in CERS. Cubist Systematic Strategies LLC lifted its stake in shares of Cerus by 152.4% during the 1st quarter. Cubist Systematic Strategies LLC now owns 104,101 shares of the biotechnology company's stock worth $145,000 after purchasing an additional 62,854 shares during the period. AQR Capital Management LLC lifted its stake in shares of Cerus by 291.6% during the 1st quarter. AQR Capital Management LLC now owns 1,429,062 shares of the biotechnology company's stock worth $1,986,000 after purchasing an additional 1,064,133 shares during the period. Millennium Management LLC lifted its stake in shares of Cerus by 12.0% during the 1st quarter. Millennium Management LLC now owns 3,222,327 shares of the biotechnology company's stock worth $4,479,000 after purchasing an additional 344,395 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cerus during the 1st quarter worth $32,000. Finally, Rhumbline Advisers lifted its stake in shares of Cerus by 6.8% during the 2nd quarter. Rhumbline Advisers now owns 268,946 shares of the biotechnology company's stock worth $379,000 after purchasing an additional 17,039 shares during the period. Hedge funds and other institutional investors own 78.37% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on CERS. Zacks Research raised Cerus from a "strong sell" rating to a "hold" rating in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cerus in a research note on Wednesday, March 25th. BTIG Research raised Cerus from a "neutral" rating to a "buy" rating and set a $4.00 target price on the stock in a research note on Friday, May 1st. Finally, Wall Street Zen raised Cerus from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $4.00.
Get Our Latest Analysis on CERS
About Cerus
(
Get Free Report)
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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