Cantor Fitzgerald Keeps a Buy Rating on Cerus Corp (CERS)


Cantor Fitzgerald analyst Craig Bijou reiterated a Buy rating on Cerus Corp (NASDAQ: CERS) yesterday and set a price target of $9. The company’s shares closed yesterday at $7.41, close to its 52-week high of $7.93.

Bijou commented:

“: We reiterate our Overweight rating and $9 PT on shares of CERS. CERS reported 2Q product revenue of $15MM (+62%), beating the Street by $2MM. CERS raised its 2018 product revenue guidance by $3MM to $56-58MM (from $53-55MM), representing growth of 29-33%. The strong revenue growth was driven by growing global platelet kit demand, notably in France and the US. We think France and Germany remain CERS’s greatest opportunities in the near term as it builds adoption in the US. We think guidance will likely be conservative, and we would not be surprised to see another beat and raise.”

According to TipRanks.com, Bijou is a 5-star analyst with an average return of 29.8% and a 89.2% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and Wright Medical Group.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cerus Corp with a $8.50 average price target.

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The company has a one-year high of $7.93 and a one-year low of $2.14. Currently, Cerus Corp has an average volume of 1M.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock. Last month, Laurence Corash, the CSO of CERS bought 35,000 shares for a total of $146,650.

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.

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