Cantor Maintains Buy On Cerus As Flurry Of News Are Expected


In a research report published this morning, Cantor analyst Caroline Corner maintained a Buy rating on Cerus (NASDAQ:CERS) with a $6.00 price target, which represents a potential upside of 41% from where the stock is currently trading.

Corner noted, “We expect Cerus to attain FDA premarket approval (PMA) for the INTERCEPT Plasma System and INTERCEPT Platelet System in 1H:15, if not 4Q:14.” He continued, “Cerus is expecting data readouts of two trials for the INTERCEPT Red Cell System in coming months. Both trials are completed. We understand that the company is going through final preparation with the FDA to release the U.S. Phase II results, and we expect the release any day. Regarding the EU Phase III trial, management has told us that this may slip into “very early January” as the team prepares the data. We continue to expect solid data and EU approval in 2H:16.”

Furthermore, “Cerus’ management indicated the American Red Cross (ARC) is getting donor operations back up and running in Puerto Rico, and we expect that INTERCEPT will be in use on the island under the IDE granted last month in 1Q:15.”

 

 

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