BTIG Sticks to Their Hold Rating for Cerus Corp


In a report released yesterday, Sung Ji Nam from BTIG maintained a Hold rating on Cerus Corp (NASDAQ: CERS). The company’s shares closed yesterday at $6.29, close to its 52-week high of $6.47.

Ji Nam noted:

“Developments on Track CERS kicked off 2018 on a strong note with product revenues meaningfully exceeding consensus expectations, BARDA revenue picking up the pace, and the company demonstrating leverage for its commercial infrastructure (flat SG&A spending y/y despite significant sales growth). Standouts in 1Q include INTERCEPT kit growth of >100% in EMEA (largely driven by the expanded contract in the U.S. Full year product revenue guidance was raised by $2mm at the midpoint of the range to 22- 26% growth from 17-22% previously, which we think could still be beatable if the current pace of INTERCEPT platelet adoption continues in France and the U.S. On product development front, CERS remains on target for CE mark submission of INTERCEPT red cells by year-end, and FDA PMA supplement submission of INTERCEPT cryo in 1H19. INTERCEPT red cell trials in the U.S.”

According to TipRanks.com, Nam is a 2-star analyst with an average return of 1.4% and a 66.7% success rate. Nam covers the Healthcare sector, focusing on stocks such as Oxford Immunotec, Myriad Genetics, and Thermo Fisher.

Cerus Corp has an analyst consensus of Moderate Buy, with a price target consensus of $7.

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The company has a one-year high of $6.47 and a one-year low of $1.93. Currently, Cerus Corp has an average volume of 1.06M.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CERS in relation to earlier this year.

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Cerus Corp. engages in the research, development, and manufacture of biomedical and surgical products. It produces blood system for platelets and plasma. It markets its products under the INTERCEPT brand. The company was founded by Laurence M. Corash and John E. Hearst on September 19, 1991 and is headquartered in Concord, CA.

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