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Cerus Corporation CERS shares are up 18 percent since April, when they touched a low of $3.86.
- Cantor Fitzgerald’s Caroline Corner maintained a Buy rating on the company, with a price target of $7.
- Several catalysts in late 4Q15 and 1Q16 are expected to boost the company’s share price, Corner stated.
Medical devices company Cerus announced that the Blood Center of the Carolinas, or CBCC, which provides blood platelets to several regional hospitals, has signed a three-year purchase agreement for the company’s INTERCEPT platelets and plasma.
The agreement means that CBCC can start implementing and validating the INTERCEPT system in their facilities, with production and delivery to hospitals expected to begin from 1H16, analyst Caroline Corner said.
Cerus’ management already has contracts with five other US blood centers, Corner mentioned, while adding that the new contract boosts confidence in the company’s ability to meet the revenue projections for 2016.
Other catalysts that could propel Cerus’ performance in the coming months include a “P-code decision for reimbursement for INTERCEPT platelets in an outpatient setting” in November and granting of claim expansion by the FDA, enabling the company to market its products better.
Cerus also plans to submit applications to support label claim extensions in 2016 for the extended shelf-life for platelets and triple-dose platelet sets, the Cantor Fitzgerald report stated.
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