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


In a report released yesterday, Craig Bijou from Cantor Fitzgerald reiterated a Buy rating on Cerus Corp (CERS), with a price target of $9. The company’s shares closed yesterday at $6.57.

Bijou observed:

“. We reiterate our OW rating and 12-month PT of $9 on CERS shares. CERS reported 1Q19 product revenue of $17.5MM (+29%), beating the Street by $2.2MM. The beat was driven by strong platelet kit orders in the Cross blood centers contributing ~50% of revenue in North America. Management raised product revenue guidance by $1MM at the mdpt to $71-74MM, implying 17-21% y/y growth. We continue to expect significant platelet revenue growth in the US, likely to offset headwinds from difficult comps in France.”

According to TipRanks.com, Bijou is a 4-star analyst with an average return of 5.5% and a 52.9% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Ra Medical Systems Inc, Zimmer Biomet Holdings, and Integra Lifesciences.

Cerus Corp has an analyst consensus of Moderate Buy, with a price target consensus of $9.

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Based on Cerus Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $16.21 million. In comparison, last year the company had a GAAP net loss of $13.89 million.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is negative on the stock. Last month, William Mariner Greenman, the President & CEO of CERS bought 100 shares for a total of $106.

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. The company produces blood system for platelets and plasma. It markets 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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