MLV Maintains Buy On Cerus Following Phase II Results Of INTERCEPT Red Blood Cells
In a research report released today, MLV analyst George Zavoico reiterated a Buy rating on Cerus (NASDAQ:CERS) with a price target of $10, as the company announced that its Phase 2 clinical trial of red blood cells treated with the INTERCEPT Blood System met its primary endpoint, with preliminary analysis demonstrating that greater than 75 percent of treated red blood cells continued to circulate 24 hours following transfusion.
Zavoico noted, “We point out that the INTERCEPT RBC market potential is greater than the combined market potential for INTERCEPT Plasma and Platelets. If INTERCEPT RBC is approved, we expect its launch and market penetration will be facilitated by several years of prior experience with INTERCEPT Plasma and Platelets.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst George Zavoico has a total average return of 11.6% and a 59.5% success rate. Zavoico has a 44.0% average return when recommending CERS, and is ranked #612 out of 3423 analysts.