Cerus (CERS): American Red Cross Implementation Highlights Increasing U.S. INTERCEPT Adoption - FBR
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FBR Capital analyst Thomas Yip reiterated an Outperform rating and $10 price target on Cerus (NASDAQ: CERS) as American Red Cross implementation highlights increasing U.S. INTERCEPT adoption.
Yip commented, "After the market close on August 4, Cerus hosted a conference call to report its 2Q16 results and to discuss INTERCEPT's commercial and regulatory progress. We view INTERCEPT's implementation by the American Red Cross (ARC) as an important achievement in 2Q16, as it signifies a vote of confidence from one of the largest U.S. blood suppliers that we believe could encourage other blood suppliers to consider switching to INTERCEPT. We believe public concerns for a Zika virus (ZIKV) outbreak on U.S. soil will continue to encourage policy setters to prioritize bloodsupply safety and highlight INTERCEPT as the only FDA-approved option to ensure an uninterrupted blood supply in areas with active Zika transmissions. From a longerterm perspective, we think increasing public awareness for blood safety will lead to INTERCEPT's adoption by more U.S. blood suppliers. We reiterate our Outperform rating and $10 price target."
Shares of Cerus closed at $7.19 yesterday.
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