Cantor Fitzgerald analyst Craig Bijou maintained a Buy rating on Cerus Corp (CERS) today and set a price target of $9. The company’s shares opened today at $5.50.
Bijou commented:
“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 2-star analyst with an average return of -0.8% and a 30.4% 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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Based on Cerus Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $14.19 million. In comparison, last year the company had a GAAP net loss of $13.42 million.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Kevin Dennis Green, the CFO of CERS sold 2,783 shares for a total of $14,889.
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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.
