Why Investors Should Stick to Cerus Corp. (NASDAQ: CERS) Stock in 2023

In the last trading session, 1.02 million Cerus Corp. (NASDAQ:CERS) shares changed hands as the company’s beta touched 1.24. With the company’s per share price at $1.79 changed hands at $0.04 or 2.29% during last session, the market valuation stood at $324.35M. CERS’s last price was a discount, traded about -137.43% off its 52-week high of $4.25. The share price had its 52-week low at $1.21, which suggests the last value was 32.4% up since then. When we look at Cerus Corp.’s average trading volume, we note the 10-day average is 1.13 million shares, with the 3-month average coming to 1.09 million.

Analysts gave the Cerus Corp. (CERS) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.80. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended CERS as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Cerus Corp.’s EPS for the current quarter is expected to be -$0.02.

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Cerus Corp. (NASDAQ:CERS) trade information

Instantly CERS was in green as seen at the end of in last trading. With action 13.29%, the performance over the past five days has been green. The jump to weekly highs of 1.8400 on Monday, 11/20/23 added 2.29% to the stock’s daily price. The company’s shares are showing year-to-date downside of -50.96%, with the 5-day performance at 13.29% in the green. However, in the 30-day time frame, Cerus Corp. (NASDAQ:CERS) is 40.94% up. Looking at the short shares, we see there were 6.24 million shares sold at short interest cover period of 6.5 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.13, meaning bulls need an upside of 56.66% from its current market value. According to analyst projections, CERS’s forecast low is $2.50 with $6.00 as the target high. To hit the forecast high, the stock’s price needs a -235.2% plunge from its current level, while the stock would need to soar -39.66% for it to hit the projected low.

Cerus Corp. (CERS) estimates and forecasts

Data shows that the Cerus Corp. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -9.60% over the past 6 months, a 8.33% in annual growth rate that is considerably lower than the industry average of 14.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Cerus Corp. will rise 75.00%, while the growth in revenue is estimated to hit 55.60% for the next quarter. Year-over-year growth is forecast to reach 8.10% up from the last financial year.

Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of $51.22 million. 2 analysts are of the opinion that Cerus Corp.’s revenue for the quarter ending Mar 2024 will be $48.56 million. The company’s revenue for the corresponding quarters a year ago was $44.03 million and $30.97 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 16.30%. The estimates for the next quarter sales put growth at 56.80%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 15.42%. The 2023 estimates are for Cerus Corp. earnings to increase by 9.37%.

CERS Dividends

Cerus Corp. is expected to release its next quarterly earnings report on November 02.

Cerus Corp. (NASDAQ:CERS)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 3.08% of Cerus Corp. shares while 79.67% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 82.20%. There are 79.67% institutions holding the Cerus Corp. stock share, with ARK Investment Management, LLC the top institutional holder. As of Sep 29, 2023, the company held 11.10% of the shares, roughly 20.06 million CERS shares worth $32.5 million.

Baker Brothers Advisors, LLC holds the second largest percentage of outstanding shares, with 8.89% or 16.07 million shares worth $39.53 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Innovation ETF and Primecap Odyssey Aggressive Growth Fund. With 12.48 million shares estimated at $20.22 million under it, the former controlled 6.90% of total outstanding shares. On the other hand, Primecap Odyssey Aggressive Growth Fund held about 4.76% of the shares, roughly 8.61 million shares worth around $26.44 million.

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