In a report released today, Craig Bijou from Cantor Fitzgerald maintained a Buy rating on Cerus Corp (CERS), with a price target of $9. The company’s shares opened today at $5.36.
Bijou wrote:
“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 2019 will be a pivotal year for the company as it continues 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 1-star analyst with an average return of -2.4% and a 34.3% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Ra Medical Systems Inc, and Integra Lifesciences.
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 $8.05 and a one-year low of $3.77. Currently, Cerus Corp has an average volume of 980.9K.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2018, William Mariner Greenman, the President & CEO of CERS bought 150,000 shares for a total of $118,500.
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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.
