Cerus (CERS) Bullish View Reiterated at FBR as FDA Expands Protection Against Transfusion-Transmited Zika
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FBR Capital analyst Thomas Yip reiterated an Outperform rating and $10 price target on Cerus (NASDAQ: CERS) after the FDA issued a revised industry guidance document recommending that donated whole blood and individual blood components collected in all U.S. states and U.S. territories should be tested for Zika virus (ZIKV) or treated with a pathogen reduction device such as Cerus' INTERCEPT.
Yip commented, "This revision represents an expansion to an earlier industry guidance (issued on February 16, 2016) recommending that ZIKV testing or pathogen inactivation should be implemented in areas with active ZIKV transmission. Although the primary method of ZIKV transmission is through the Aedes aegypti mosquito, we think this revision highlights the FDA's increasing efforts to safeguard the U.S. blood supply in order to prevent a widespread ZIKV outbreak via blood transfusions. INTERCEPT remains the only FDA-approved method to inactivate ZIKV in collected platelets and plasma, with some ZIKV tests currently in early development under Investigational New Drug applications that are allowed to be used under the FDA's guidance. We think increasing public awareness regarding a potential ZIKV outbreak and overall blood supply safety could lead to INTERCEPT's accelerated adoption by major blood providers such as the American Red Cross. We reiterate our Outperform rating."
Shares of Cerus closed at $6.60 yesterday.
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