Cerus (NASDAQ:CERS) Given New $3.00 Price Target at Stifel Nicolaus

Cerus (NASDAQ:CERS) had its price target lowered by Stifel Nicolaus from $6.00 to $3.00 in a report published on Thursday morning, Marketbeat reports. Stifel Nicolaus currently has a buy rating on the biotechnology company’s stock.

Cerus Price Performance

NASDAQ CERS opened at $1.70 on Thursday. Cerus has a 1 year low of $1.21 and a 1 year high of $2.59. The company has a fifty day simple moving average of $1.98 and a 200 day simple moving average of $1.93. The company has a current ratio of 2.51, a quick ratio of 1.83 and a debt-to-equity ratio of 1.29. The company has a market cap of $314.31 million, a P/E ratio of -10.00 and a beta of 1.18.

Cerus (NASDAQ:CERS) last issued its quarterly earnings results on Thursday, August 1st. The biotechnology company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. Cerus had a negative return on equity of 44.27% and a negative net margin of 14.15%. The company had revenue of $45.08 million for the quarter, compared to the consensus estimate of $42.50 million. During the same period last year, the business posted ($0.07) earnings per share. On average, sell-side analysts predict that Cerus will post -0.13 EPS for the current year.

Insider Transactions at Cerus

In related news, insider Richard J. Benjamin sold 21,605 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $2.50, for a total transaction of $54,012.50. Following the transaction, the insider now owns 438,007 shares of the company’s stock, valued at approximately $1,095,017.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Richard J. Benjamin sold 21,605 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $2.50, for a total value of $54,012.50. Following the completion of the sale, the insider now owns 438,007 shares in the company, valued at approximately $1,095,017.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kevin Dennis Green sold 28,385 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $2.18, for a total value of $61,879.30. Following the transaction, the chief financial officer now owns 590,365 shares in the company, valued at $1,286,995.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC bought a new stake in Cerus in the 4th quarter valued at $180,000. Bouvel Investment Partners LLC raised its position in Cerus by 4.7% in the first quarter. Bouvel Investment Partners LLC now owns 269,849 shares of the biotechnology company’s stock worth $510,000 after purchasing an additional 12,224 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Cerus by 2.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,750,700 shares of the biotechnology company’s stock worth $14,649,000 after purchasing an additional 182,629 shares during the period. BNP Paribas Financial Markets boosted its holdings in Cerus by 124.8% during the first quarter. BNP Paribas Financial Markets now owns 218,647 shares of the biotechnology company’s stock valued at $413,000 after purchasing an additional 121,364 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. raised its holdings in shares of Cerus by 2.4% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,750,700 shares of the biotechnology company’s stock worth $14,571,000 after buying an additional 182,629 shares in the last quarter. 78.37% of the stock is owned by institutional investors.

Cerus Company Profile

Cerus Corporation operates as a biomedical products company. The 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.