Cerus Corporation (NASDAQ:CERS)
Cerus Corporation (NASDAQ:CERS) stock has broken through a resistance trend line and is up a whopping 20.5% after the company reported losses that beat street expectations. reported a loss of $13.4 million in its third quarter. Concord, CA-based Cerus Corporation reported a (-$0.12) per share loss against the (-$0.15) loss analysts were expecting.
Cerus Corporation (NASDAQ:CERS) is a biomedical company that develops products to improve the safety profile of blood transfusions. The INTERCEPT Blood System is designed to reduce the risk of transfusion-transmitted infections. Cerus currently markets and sells the INTERCEPT Blood System globally.
Cerus Q3 Earnings
Operating losses from Q3 2017 were $12.4 million, compared to $14.3 million for the same period in 2016, and $46.7 million compared to $46.3 million for the nine months ended September 30, 2017 and September 30, 2016, respectively.
Net loss for Q3 2017 was $13.4 million, or (-$0.12) per diluted share, compared to a net loss of (-$14.4) million, or (-$0.14) per diluted share, for the third quarter of 2016. Net loss for the first nine months of 2017 was (-$49.1) million, or (-$0.46) per diluted share, compared to a net loss of (-$49.4) million, or (-$0.49) per diluted share, for the same period of 2016.
Three investment firms follow Cerus Corporation (NASDAQ:CERS). All three assign CERS stock a rating of “Strong Buy”. The analysts’ consensus, one-year target price is $6.33.
In mid-2016, CERS shares were briefly trading over $7.00, but then started a slow, steady slide until they hit their 52-week low of $1.93 in May of 2017. Accordingly, the stock has lost about 33% year-to-date. However shares have gained over 16% during the past quarter. The recent gains have been reflected in the company’s Relative Strength Index score of 73 – a number above 70 is usually taken to signal an “overbought” condition.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.