FY2024 EPS Estimates for Cerus Boosted by Cantor Fitzgerald

Cerus Co. (NASDAQ:CERS - Free Report) - Cantor Fitzgerald raised their FY2024 earnings per share estimates for Cerus in a note issued to investors on Tuesday, January 21st. Cantor Fitzgerald analyst R. Osborn now anticipates that the biotechnology company will post earnings per share of ($0.11) for the year, up from their prior estimate of ($0.12). The consensus estimate for Cerus' current full-year earnings is ($0.12) per share. Cantor Fitzgerald also issued estimates for Cerus' FY2025 earnings at ($0.06) EPS.

Separately, Stifel Nicolaus dropped their price target on shares of Cerus from $6.00 to $3.00 and set a "buy" rating for the company in a research report on Thursday, October 17th.

Cerus Trading Up 2.5 %

Shares of NASDAQ:CERS traded up $0.05 during trading on Thursday, reaching $1.86. 1,510,026 shares of the company traded hands, compared to its average volume of 1,442,038. The company has a current ratio of 2.59, a quick ratio of 1.92 and a debt-to-equity ratio of 1.19. Cerus has a 52-week low of $1.38 and a 52-week high of $2.59. The business's fifty day moving average is $1.71 and its 200-day moving average is $1.89. The firm has a market capitalization of $344.49 million, a price-to-earnings ratio of -16.86 and a beta of 1.27.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CERS. The Manufacturers Life Insurance Company grew its stake in Cerus by 10.9% in the second quarter. The Manufacturers Life Insurance Company now owns 73,372 shares of the biotechnology company's stock worth $129,000 after purchasing an additional 7,209 shares during the period. Creative Planning boosted its holdings in shares of Cerus by 51.3% during the 3rd quarter. Creative Planning now owns 24,809 shares of the biotechnology company's stock valued at $43,000 after buying an additional 8,411 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Cerus by 0.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,754,540 shares of the biotechnology company's stock worth $3,053,000 after buying an additional 8,707 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of Cerus by 38.4% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 35,074 shares of the biotechnology company's stock worth $61,000 after acquiring an additional 9,737 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Cerus by 4.4% during the 2nd quarter. Rhumbline Advisers now owns 252,444 shares of the biotechnology company's stock valued at $444,000 after acquiring an additional 10,739 shares during the period. Institutional investors own 78.37% of the company's stock.

Insider Buying and Selling at Cerus

In other news, Director Eric Bjerkholt sold 20,000 shares of the firm's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $1.78, for a total value of $35,600.00. Following the completion of the sale, the director now directly owns 162,133 shares of the company's stock, valued at approximately $288,596.74. This trade represents a 10.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.40% of the company's stock.

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.