After Cantor Fitzgerald and Cowen & Co. gave Cerus Corp (NASDAQ: CERS) a Buy rating last month, the company received another Buy, this time from Robert W. Baird. Analyst Catherine Schulte reiterated a Buy rating on Cerus Corp 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.
According to TipRanks.com, Schulte is a 5-star analyst with an average return of 25.8% and a 75.9% success rate. Schulte covers the Healthcare sector, focusing on stocks such as Oxford Immunotec, NanoString Tech, and Exact Sciences.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cerus Corp with a $9.17 average price target, which is a 23.8% upside from current levels. In a report issued on July 19, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $9 price target.
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Based on Cerus Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $13.89 million. In comparison, last year the company had a GAAP net loss of $17.08 million.
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.
