Cantor Fitzgerald analyst Craig Bijou maintained a Buy rating on Cerus Corp (NASDAQ: CERS) yesterday and set a price target of $9. The company’s shares closed yesterday at $7.09.
Bijou said:
“We rate CERS Overweight and have a 12-month price target of $9. CERS commercializes INTERCEPT, the only FDA-approved system for pathogen- inactivated (PI) blood components. We believe 2018 will be a pivotal year for the company as it seeks to penetrate the platelet transfusion market in key geographical regions (US and internationally), which we expect to drive double-digit revenue growth longer term. CERS is seeking regulatory approval in Europe and the US to use its INTERCEPT system to treat red cells, a company-estimated $5B market.”
According to TipRanks.com, Bijou is a 5-star analyst with an average return of 24.4% and a 87.2% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and Wright Medical Group.
Cerus Corp has an analyst consensus of Strong Buy, with a price target consensus of $9.17.
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Based on Cerus Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $13.28 million. In comparison, last year the company had a GAAP net loss of $13.42 million.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Richard Benjamin, the CMO of CERS sold 50,000 shares for a total of $376,000.
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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.
