Cerus (NASDAQ:CERS) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Cerus (NASDAQ:CERS) released its quarterly earnings results on Thursday. The biotechnology company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.01, Zacks reports. The business had revenue of $45.08 million during the quarter, compared to analyst estimates of $42.50 million. Cerus had a negative net margin of 19.27% and a negative return on equity of 58.65%. During the same quarter in the prior year, the firm earned ($0.07) earnings per share.

Cerus Stock Up 16.2 %

NASDAQ CERS traded up $0.33 during trading hours on Friday, reaching $2.37. 2,599,953 shares of the company’s stock were exchanged, compared to its average volume of 1,270,149. The company’s 50-day moving average is $1.93 and its two-hundred day moving average is $1.94. The company has a market capitalization of $438.19 million, a price-to-earnings ratio of -13.76 and a beta of 1.20. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.72 and a current ratio of 2.41. Cerus has a one year low of $1.21 and a one year high of $2.85.

Wall Street Analysts Forecast Growth

CERS has been the subject of several research reports. Cantor Fitzgerald raised their price objective on shares of Cerus from $3.00 to $4.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Craig Hallum started coverage on Cerus in a research note on Friday, April 12th. They issued a “buy” rating and a $5.00 price objective on the 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.