Stifel Reiterates Buy Rating, $10 Price Target on Cerus (CERS) on ARC Deal, Sees it as "Robust Commitment" to INTERCEPT Platform

Stifel analyst Mathew Blackman reiterated a Buy rating and $10.00 price target on Cerus (NASDAQ: CERS), following the company's announcement of a 5-year contract with the American Red Cross for INTERCEPT platelet platform.

The analyst comments: "This morning, CERS announced a five-year contract with the American Red Cross (ARC) for the company’s INTERCEPT platelet platform. Recall, ARC is the largest US blood bank, accounting for upwards of 40% of the US blood market and is one of CERS’s most-important customers. Our quick thoughts: (1) this contract demonstrates ARC’s continued, robust commitment to CERS’s INTERCEPT platform and should provide increased and sustained visibility from a very large (and growing) customer; (2) the five-year term of the contract also provides additional evidence of overall customer stickiness; and (3) we believe more than 50% of ARC platelets are currently treated with INTERCEPT and that ARC remains very much on track to reach near-100% penetration by 2023. Note, CERS reports 1Q22 results on May 5th after market close, and we anticipate another quarter of sustained, outsized top-line growth and improving profitability trends."

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 $4.41 yesterday.

By Vlad Schepkov

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• McGraw Hill (MH) PT Raised to $15 at UBS
• SoundThinking (SSTI) PT Lowered to $8 at Cantor Fitzgerald