UPDATE: MLV Reiterates Bullish Stance On Cerus Following Two FDA Approvals In A Week
Just two days after approving Cerus’ (NASDAQ:CERS) INTERCEPT Blood System for Plasma, the FDA comes through and approves INTERCEPT Blood System for Platelets.
In reaction, MLV analyst George Zavoico is out with a new research note on CERS, reiterating a Buy rating with a price target of $10/share, which implies an upside of 46% from current levels.
Zavoico noted, “Although INTERCEPT Plasma’s approval boosted our confidence in INTERCEPT Platelets’ U.S. approval, its early arrival was a surprise. We now project U.S. market launch of both products by mid-2015 after a few months of pre-commercial preparations including process validation and enduser education. Cerus plans to reveal its U.S. commercial strategy and to provide revised revenue guidance during its year-end 2014 call in late February 2015. We reiterate our BUY rating and $10 one-year price target for Cerus Corp. as INTERCEPT Platelets’ U.S. approval was fully priced into our valuation.”
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 10.8% and a 63.9% success rate. Zavoico has a 39.5% average return when recommending CERS, and is ranked #633 out of 3420 analysts.