MLV Reiterates Buy On Cerus Following FDA Approval For INTERCEPT
In a research report issued today, MLV analyst George Zavoico reiterated a Buy rating on Cerus Corp. (NASDAQ:CERS) with a $7 price target, as the company announced FDA approval of its INTERCEPT Blood System for ex vivo pathogen inactivation of plasma to reduce the risk of transfusion-transmitted infection (TTI) in patients receiving therapeutic plasma transfusion.
Zavoico noted, “Since we previously projected FDA approval in 1Q:15, the FDA surprised us with an early decision. Based on the FDA’s prior approval of Cerus’ two Investigational Device Exemption (IDE) applications, we think today’s early approval underscores our belief that the FDA is fully cognizant of the urgency of protecting the blood supply and its confidence in the INTERCEPT system.”
The analyst added, “We think INTERCEPT Plasma’s approval bodes well for the projected FDA approval of INTERCEPT Platelets in 1Q:15.”
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 5.1% and a 55.9% success rate. Zavoico has a 22.3% average return when recommending CERS, and is ranked #1097 out of 3430 analysts.