In a report released yesterday, Josh Jennings from TD Cowen maintained a Buy rating on Cerus, with a price target of $5.00.
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Josh Jennings has given his Buy rating due to a combination of factors including Cerus’s impressive second-quarter performance and optimistic future projections. The company reported product revenue significantly above market expectations, with a notable increase driven by its core platelet business and the innovative IFC offering. This strong performance was reflected in a 16% growth in product revenue, surpassing the anticipated figures.
Furthermore, Cerus raised its full-year revenue guidance, indicating confidence in continued growth, particularly with the IFC product, which has seen increasing demand. The company’s ability to maintain healthy product gross margins and its commitment to achieving positive adjusted EBITDA by 2025 further support the Buy rating. These elements collectively highlight Cerus’s robust financial health and promising outlook, justifying Jennings’s positive assessment.