Cantor Fitzgerald analyst Craig Bijou reiterated a Buy rating on Cerus Corp (NASDAQ: CERS) today and set a price target of $9. The company’s shares opened today at $7.45, close to its 52-week high of $7.55.
Bijou commented:
“: We reiterate our Overweight rating on shares of CERS and raise our PT to $9 from $7. After hosting investor meetings with CERS management earlier this week and attending the Meeting (BPAC) on July 18, we feel more confident that CERS’s recent momentum should continue. Our primary takeaway from investor meetings with management was that the company has various growth drivers for the next several years. The takeaway from the BPAC meeting was that the FDA is moving closer to providing final guidance for methods to reduce bacterial contamination in transfused platelets.”
According to TipRanks.com, Bijou is a 4-star analyst with an average return of 30.6% and a 75.0% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and Wright Medical Group.
Currently, the analyst consensus on Cerus Corp is a Moderate Buy with an average price target of $9.
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The company has a one-year high of $7.55 and a one-year low of $2.10. Currently, Cerus Corp has an average volume of 987.1K.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. Last month, Gail Schulze, a Director at CERS sold 52,500 shares for a total of $349,125.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
