Cerus Co. (NASDAQ:CERS – Get Free Report) saw a significant increase in short interest in September. As of September 30th, there was short interest totalling 7,040,000 shares, an increase of 6.2% from the September 15th total of 6,630,000 shares. Based on an average daily volume of 1,000,000 shares, the days-to-cover ratio is currently 7.0 days.
Analyst Ratings Changes
Separately, Stifel Nicolaus cut their price objective on Cerus from $6.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Cerus presently has an average rating of “Moderate Buy” and a consensus target price of $3.63.
Read Our Latest Report on Cerus
Insiders Place Their Bets
Hedge Funds Weigh In On Cerus
Several institutional investors have recently made changes to their positions in CERS. Secure Asset Management LLC bought a new position in shares of Cerus during the second quarter valued at approximately $27,000. Russell Investments Group Ltd. grew its holdings in Cerus by 451.1% in the 1st quarter. Russell Investments Group Ltd. now owns 14,879 shares of the biotechnology company’s stock worth $28,000 after buying an additional 12,179 shares in the last quarter. Creative Planning grew its holdings in Cerus by 51.3% in the 3rd quarter. Creative Planning now owns 24,809 shares of the biotechnology company’s stock worth $43,000 after buying an additional 8,411 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in Cerus in the 2nd quarter worth approximately $45,000. Finally, Algert Global LLC bought a new position in Cerus in the 2nd quarter worth approximately $97,000. 78.37% of the stock is owned by institutional investors.
Cerus Trading Down 9.4 %
Shares of NASDAQ CERS opened at $1.63 on Friday. The stock’s 50 day moving average price is $1.99 and its two-hundred day moving average price is $1.93. Cerus has a 52-week low of $1.21 and a 52-week high of $2.59. The stock has a market capitalization of $301.37 million, a P/E ratio of -9.59 and a beta of 1.18. The company has a quick ratio of 1.83, a current ratio of 2.51 and a debt-to-equity ratio of 1.29.
Cerus (NASDAQ:CERS – Get Free Report) last posted its earnings results on Thursday, August 1st. The biotechnology company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $45.08 million during the quarter, compared to analyst estimates of $42.50 million. Cerus had a negative return on equity of 44.27% and a negative net margin of 14.15%. During the same period in the prior year, the company earned ($0.07) earnings per share. On average, analysts anticipate that Cerus will post -0.13 earnings per share for the current fiscal year.
About Cerus
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.
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