BTIG Sticks to Its Buy Rating for Cerus Corp

By Carrie Williams

BTIG analyst Karen Koski reiterated a Buy rating on Cerus Corp (NASDAQ: CERS) on May 26 and set a price target of $5. The company’s shares closed last Friday at $2.35, close to its 52-week low of $1.93.

According to TipRanks.com, Koski is a 4-star analyst with an average return of 9.1% and a 63.8% success rate. Koski covers the Healthcare sector, focusing on stocks such as Accelerate Diagnostics, Orasure Technologies, and Foundation Medicine.

Currently, the analyst consensus on Cerus Corp is Strong Buy and the average price target is $7.33, representing a 211.9% upside.

In a report issued on May 23, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $7 price target.

Based on Cerus Corp’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $8.43 million and GAAP net loss of $18.6 million. In comparison, last year the company earned revenue of $7.63 million and had a GAAP net loss of $16.86 million.

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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.