Cerus (NASDAQ:CERS) Posts Quarterly Earnings Results, Meets Expectations

Cerus (NASDAQ:CERS) announced its earnings results on Thursday. The biotechnology company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01), Zacks reports. Cerus had a negative net margin of 11.60% and a negative return on equity of 40.55%. The business had revenue of $50.81 million for the quarter, compared to the consensus estimate of $50.81 million.

Cerus Stock Performance

CERS stock opened at $1.65 on Friday. Cerus has a 12 month low of $1.38 and a 12 month high of $2.59. The firm’s 50-day moving average is $1.74 and its 200 day moving average is $1.84. The company has a quick ratio of 1.92, a current ratio of 2.59 and a debt-to-equity ratio of 1.19.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $4.00 target price on shares of Cerus in a research note on Friday.

Insider Buying and Selling

In related 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 transaction, the director now owns 162,133 shares of the company’s stock, valued at $288,596.74. This trade represents a 10.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.40% of the stock is currently owned by 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.