BTIG Starts Cerus (CERS) at Buy

BTIG initiated coverage on Cerus (NASDAQ: CERS) with a Buy rating and a price target of $8. Analyst Karen Koski called the stock a misunderstood company with a huge market opportunity and a best-in-class product.

"We are believers in pathogen inactivation (PI) as today’s blood management paradigm misses currently known and unknown diseases. Emerging pathogens will continue to threaten global blood supply, and we see INTERCEPT as an attractive and proactive solution to eliminate these bugs before we are aware of them and the costs associated with additional screening (assuming a test is even available)," said Koski.

"Shares have fallen to levels seen prior to FDA approval in December 2014, despite the story being de-risked considerably. It seems investors are giving Cerus minimal credit for potential U.S. sales due to mgmt’s conservative guidance for ‘15. While 2015 is likely to be more of a building year for Cerus, we expect positive announcements from U.S. blood centers and potential OUS decisions to drive shares higher," added the analyst.

For an analyst ratings summary and ratings history on Cerus click here. For more ratings news on Cerus click here.

Shares of Cerus closed at $4.59 yesterday.

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