Cerus Corporation (CERS)
NASDAQ:CERS
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Cerus
(NASDAQ:CERS)
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Rating:60Neutral
Price Target:
$3.00
▲(56.25% Upside)
Action:Reiterated
Date:06/09/26
The score is driven primarily by improving (but still unprofitable) fundamentals and mixed cash-flow quality, partially offset by strong technical positioning above key moving averages. Raised guidance and positive EBITDA commentary from the latest earnings call support the outlook, while negative earnings (negative P/E) and margin pressure keep the overall score in the middle range.
Positive Factors
Recurring consumable revenue model
INTERCEPT's consumable-heavy business ties revenue to procedure volumes and creates recurring, repeat-purchase demand. That structural revenue stream offers durable visibility and customer stickiness as blood centers and hospitals must repurchase disposables for each treated unit.
Negative Factors
Gross margin compression and ongoing unprofitability
Margin pressure from inflation, shipping, tariffs and FX has compressed gross margins into the low‑fifties, limiting operating leverage. Persistent GAAP losses constrain retained earnings and returns on equity, reducing capacity to self‑fund expansion without external capital.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumable revenue model
INTERCEPT's consumable-heavy business ties revenue to procedure volumes and creates recurring, repeat-purchase demand. That structural revenue stream offers durable visibility and customer stickiness as blood centers and hospitals must repurchase disposables for each treated unit.
Read all positive factors
Cerus (CERS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$573.06M
Dividend YieldN/A
Average Volume (3M)2.42M
Price to Earnings (P/E)―
Beta (1Y)1.79
Revenue Growth16.97%
EPS Growth51.23%
CountryUS
Employees614
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.05
Shares Outstanding200,368,970
10 Day Avg. Volume2,357,306
30 Day Avg. Volume2,421,212
Financial Highlights & Ratios
PEG Ratio0.99
Price to Book (P/B)6.11
Price to Sales (P/S)1.90
P/FCF Ratio46.07
Enterprise Value/Market Cap1.02
Enterprise Value/Revenue2.62
Enterprise Value/Gross Profit4.83
Enterprise Value/Ebitda491.14
Forecast
1Y Price Target
$4.50Price Target Upside134.38% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.07
Revenue Forecast (FY)$251.40M
Cerus Business Overview & Revenue Model
Company Description
Cerus Corporation operates as a biotechnology firm dedicated to advancing and marketing the INTERCEPT Blood System. This proprietary technology significantly enhances the safety of transfusable blood components by neutralizing biological threats, ...
How the Company Makes Money
Cerus makes money primarily by selling its INTERCEPT Blood System consumables and related products to blood centers and hospitals. The core recurring revenue stream is the ongoing use of single-use/disposable processing sets (and associated consum...
Cerus Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call presented multiple clear commercial and operational positives: strong Q1 top-line performance (24% product revenue growth), raised full-year guidance, robust IFC/platelet momentum, continued positive adjusted EBITDA, disciplined operating expense control, and advancing regulatory/product milestones (illuminator PMA submission and RBC trial readout). Offsetting these positives are persistent margin headwinds (gross margin down to 52%), macro pressures (inflation, tariffs, FX), regional logistical risks (Middle East), working capital-driven cash use, and timing uncertainty around the red blood cell CE Mark and the lumpy nature of IFC rollout. On balance, the highlights—notably recurring revenue growth, improved profitability trends, and strengthened guidance—outweigh the lowlights, though management cautions about margin and timing risks.Positive Updates
Strong Product Revenue Growth and Raised Guidance
Q1 product revenue was $53.7M, up 24% year-over-year. Management raised full-year 2026 product revenue guidance to $227M–$231M (implying ~10%–12% YoY product revenue growth) and raised IFC guidance to $22M–$24M (~30%–40% growth for IFC).
Negative Updates
Gross Margin Compression
Q1 gross margin declined to 52.0% from 58.8% in Q1 2025. Management expects 2026 gross margin to remain in the low-fifties range due to persistent headwinds (inflationary shipping and fuel costs, tariffs, and FX).
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Product Revenue Growth and Raised Guidance
Q1 product revenue was $53.7M, up 24% year-over-year. Management raised full-year 2026 product revenue guidance to $227M–$231M (implying ~10%–12% YoY product revenue growth) and raised IFC guidance to $22M–$24M (~30%–40% growth for IFC).
Read all positive updates
Company Guidance
Management raised full‑year 2026 product revenue guidance to $227–$231 million and IFC revenue to $22–$24 million, implying 10–12% product revenue growth and ~30–40% IFC growth versus 2025; Q1 product revenue was $53.7M (up 24% YoY) and total revenue up 23%, with North America ~70% of Q1 product revenue and NA platelet kit volumes +69% YoY; Q1 IFC therapeutic dose equivalents rose ~120% YoY and IFC revenue was $5.7M (vs $3.0M, ~90% revenue growth in Q1); EMEA revenue grew 28% (FX benefited EMEA by ~11% and consolidated FX by ~3%); Q1 gross margin was 52% (prior 58.8%) and full‑year gross margin is expected to be in the low‑fifties; GAAP net loss narrowed to $1.6M, adjusted EBITDA was $4.0M (eighth consecutive quarter positive) and management expects a third consecutive year of positive adjusted EBITDA with line of sight to GAAP profitability; cash & equivalents were $80.4M (vs $82.9M YE2025) and operating cash used was $3M in Q1.Cerus Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
56
Neutral
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 222.79M | 206.13M | 180.27M | 156.37M | 162.05M | 130.86M |
| Gross Profit | 120.99M | 110.29M | 99.52M | 86.40M | 87.09M | 67.38M |
| EBITDA | 1.19M | -4.94M | -10.02M | -26.34M | -33.52M | -45.99M |
| Net Income | -9.55M | -15.63M | -20.92M | -37.49M | -42.78M | -54.37M |
Balance Sheet | ||||||
| Total Assets | 222.91M | 221.86M | 200.92M | 197.75M | 218.09M | 237.50M |
| Cash, Cash Equivalents and Short-Term Investments | 80.42M | 82.88M | 80.45M | 65.85M | 102.15M | 129.36M |
| Total Debt | 97.36M | 96.95M | 98.10M | 96.00M | 87.24M | 87.59M |
| Total Liabilities | 154.62M | 156.89M | 144.02M | 144.30M | 149.53M | 151.88M |
| Stockholders Equity | 67.55M | 64.22M | 56.15M | 52.65M | 67.61M | 84.62M |
Cash Flow | ||||||
| Free Cash Flow | -1.22M | 8.52M | 8.52M | -47.77M | -27.61M | -34.83M |
| Operating Cash Flow | 2.63M | 11.36M | 11.36M | -43.17M | -25.61M | -33.92M |
| Investing Cash Flow | 4.88M | -8.13M | -8.13M | 8.62M | 8.46M | 12.69M |
| Financing Cash Flow | 352.00K | 4.96M | 4.96M | 10.67M | 4.19M | 34.29M |
Cerus Technical Analysis
Positive
1.92
Price Trends
2.49
Positive
2.27
Positive
2.04
Positive
Market Momentum
0.04
Negative
61.61
Neutral
73.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CERS, the sentiment is Positive. The current price of 1.92 is below the 20-day moving average (MA) of 2.68, below the 50-day MA of 2.49, and below the 200-day MA of 2.04, indicating a bullish trend. The MACD of 0.04 indicates Negative momentum. The RSI at 61.61 is Neutral, neither overbought nor oversold. The STOCH value of 73.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CERS.
Cerus Risk Analysis
Cerus disclosed 39 risk factors in its most recent earnings report. Cerus reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cerus Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $407.90M | 27.46 | 10.66% | ― | 23.10% | 22.75% | |
73 Outperform | $591.13M | 65.44 | 12.28% | ― | 30.18% | 109.31% | |
72 Outperform | $631.58M | 31.11 | 9.70% | ― | 17.18% | 34.07% | |
60 Neutral | $573.06M | -55.75 | -15.36% | ― | 16.97% | 51.23% | |
57 Neutral | $339.57M | -9.16 | -25.50% | ― | -5.89% | 53.75% | |
54 Neutral | $84.99M | -1.10 | -55.88% | ― | 2.01% | 85.71% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
CERS
Cerus
2.86
1.44
101.41%
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OM
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4.59
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MASS
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8.98
2.25
33.43%
Cerus Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Cerus amends credit facilities, expands term loan capacity
Positive
Jun 8, 2026
On June 5, 2026, Cerus Corporation amended and restated its term loan and revolving credit facilities with MidCap entities, securing a term loan capacity of up to $65 million and an initial $30 million revolving line, both backed by substantially ...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Cerus Shareholders Approve Equity Plan Expansion and Governance
Positive
Jun 3, 2026
At its annual meeting on June 2, 2026, Cerus Corporation’s stockholders approved an amendment and restatement of the company’s 2024 Equity Incentive Plan, increasing the pool of shares available for equity awards by 10,000,000, and re-...
Business Operations and StrategyExecutive/Board Changes
Cerus Adopts New Executive Severance Plan for Leadership
Neutral
Apr 21, 2026
On April 17, 2026, Cerus Corporation’s board adopted a new severance plan covering key executives, including its CFO, COO, CMO and Chief Legal Officer, replacing prior severance arrangements. The plan provides enhanced cash severance, extend...
Executive/Board Changes
Cerus Announces CEO Succession and Executive Compensation Changes
Positive
Mar 16, 2026
On March 16, 2026, Cerus Corporation announced that Chief Operating Officer Vivek Jayaraman will become president and chief executive officer effective July 1, 2026, succeeding William “Obi” Greenman, who will transition to executive c...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.