Cantor Fitzgerald Brokers Raise Earnings Estimates for Cerus

Cerus Co. (NASDAQ:CERS) – Analysts at Cantor Fitzgerald increased their FY2024 earnings per share (EPS) estimates for Cerus in a report released on Tuesday, January 21st. Cantor Fitzgerald analyst R. Osborn now forecasts that the biotechnology company will earn ($0.11) per share for the year, up from their prior forecast of ($0.12). The consensus estimate for Cerus’ current full-year earnings is ($0.11) per share. Cantor Fitzgerald also issued estimates for Cerus’ FY2025 earnings at ($0.06) EPS.

Separately, Stifel Nicolaus decreased their price target on Cerus from $6.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th.

Cerus Stock Up 6.5 %

CERS stock opened at $1.97 on Thursday. Cerus has a 52 week low of $1.38 and a 52 week high of $2.59. The company has a current ratio of 2.59, a quick ratio of 1.92 and a debt-to-equity ratio of 1.19. The company has a market cap of $365.85 million, a P/E ratio of -17.91 and a beta of 1.27. The company’s 50-day moving average price is $1.72 and its 200 day moving average price is $1.89.

Cerus (NASDAQ:CERS) last posted its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The business had revenue of $46.02 million for the quarter, compared to analysts’ expectations of $44.10 million. Cerus had a negative net margin of 11.19% and a negative return on equity of 37.90%. During the same period in the prior year, the company posted ($0.03) EPS.

Hedge Funds Weigh In On Cerus

A number of institutional investors have recently made changes to their positions in CERS. Easterly Investment Partners LLC raised its stake in Cerus by 726.1% in the 3rd quarter. Easterly Investment Partners LLC now owns 313,522 shares of the biotechnology company’s stock valued at $546,000 after purchasing an additional 275,569 shares during the last quarter. Bouvel Investment Partners LLC lifted its stake in shares of Cerus by 87.1% during the third quarter. Bouvel Investment Partners LLC now owns 505,020 shares of the biotechnology company’s stock valued at $879,000 after buying an additional 235,082 shares during the period. Sei Investments Co. boosted its position in Cerus by 658.9% during the second quarter. Sei Investments Co. now owns 263,839 shares of the biotechnology company’s stock worth $464,000 after acquiring an additional 229,074 shares during the last quarter. Barclays PLC grew its stake in Cerus by 16.2% in the 3rd quarter. Barclays PLC now owns 1,575,049 shares of the biotechnology company’s stock worth $2,740,000 after acquiring an additional 219,755 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Cerus in the 3rd quarter valued at $353,000. 78.37% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cerus

In related news, Director Eric Bjerkholt sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $1.78, for a total value of $35,600.00. Following the sale, the director now owns 162,133 shares of the company’s stock, valued at approximately $288,596.74. This represents a 10.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is owned by corporate insiders.

About Cerus

Cerus Corporation operates as a biomedical products company. The company focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System, a proprietary technology for controlling biological replication that is designed to reduce blood-borne pathogens in donated blood components intended for transfusion.