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Zika Headlines Continue To Be Tailwinds For Cerus

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Zika Headlines Continue To Be Tailwinds For Cerus

Cerus Corporation (NASDAQ: CERS) continues to see U.S. launch momentum, with a majority of Blood Centers of America (BCA) platelet volumes under contract and the first American Red Cross (ARC) site going live.

Baird’s Catherine W. Ramsey reiterated an Outperform rating on the company, while raising the price target from $9 to $10.

“U.S. commercial efforts are benefiting from favorable FDA draft guidance update and ongoing Zika outbreak, which highlights the benefits of proactive blood safety techniques,” Ramsey mentioned.

The European red blood cell submission and the 2H17 launch also continue to be on track.

Related Link: Several Recent Developments Have Zika-Related Stocks Rallying Over Last Few Days

Members Grow

Cerus now has members representing 54 percent of the BCA platelet volumes under contract, with the framework agreement having aided the contracting process.

The company signed six new contracts since 1Q16, including the most recent Blood Center of New Orleans. At present, 14 of Cerus’ 30 contracted customers are in routine production and the North Carolina ARC site now live.

The company expects 5-7 live sites by the end of 2016.

Zika To Drive Adoption

“We believe the recent FDA guidance document on blood transfusions in areas of local Zika transmission could help drive adoption, as local blood collection is permitted only if pathogen reduction technology or investigational Zika testing is used,” Ramsey stated.

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Latest Ratings for CERS

DateFirmActionFromTo
May 2020StifelMaintainsBuy
Apr 2020Stephens & Co.MaintainsOverweight
Feb 2020BTIG ResearchInitiates Coverage OnBuy

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