Cerus (CERS) AI Stock Analysis

• Market Cap: $447.56M
• Dividend Yield: N/A
• Average Volume (3M): 1.28M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.66
• Revenue Growth: 13.03%
• EPS Growth: 21.28%
• Country: US
• Employees: 614
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 0.00
• Shares Outstanding: 192,087,500
• 10 Day Avg. Volume: 951,394
• 30 Day Avg. Volume: 1,279,021
• PEG Ratio: 0.29
• Price to Book (P/B): 5.06
• Price to Sales (P/S): 1.58
• P/FCF Ratio: 33.35
• Enterprise Value/Market Cap: 1.18
• Enterprise Value/Revenue: 2.66
• Enterprise Value/Gross Profit: 4.82
• Enterprise Value/Ebitda: -90.27
• 1Y Price Target: $4.50
• Price Target Upside: 93.13% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 48 Neutral
• Price Target: $2.50 ▲(7.30% Upside)

The score is held down primarily by weak financial fundamentals (ongoing losses, high leverage, and deteriorating free cash flow), despite a constructive earnings-call outlook with raised guidance and positive adjusted EBITDA. Technicals show a strong uptrend, but overbought signals increase near-term risk, and valuation remains constrained by lack of profitability.

Positive Factors

Robust Gross Margin

A 56% gross margin reflects strong unit economics for INTERCEPT products and efficient cost of goods. Coupled with a consumables-heavy business model, this margin profile supports durable profitability potential as product adoption scales and provides pricing leverage against input cost pressures.

Sustained Product Revenue Growth

Consecutive quarters of rising product revenue and an upward guidance revision signal persistent demand for INTERCEPT. Recurring system consumables and growing IFC adoption create predictable revenue streams that support durable topline growth over multiple quarters as market penetration increases.

Market Penetration & International Expansion

Mid-60% U.S. penetration with a clear path to 70%+ indicates sizable remaining addressable market domestically. Selection for the German INITIATE study and European product launches demonstrate pathway to broader international adoption, strengthening long-term competitive position.

Negative Factors

High Leverage

A debt-to-equity ratio near 1.8 signals elevated financial leverage that reduces flexibility to invest and raises refinancing risk. With ongoing operating losses, high debt increases vulnerability to interest rate moves and constrains capacity to fund expansion without dilutive or costly financing.

Severely Weakened Free Cash Flow

A nearly 95% decline in free cash flow and minimal operating cash conversion indicate the company struggles to turn accounting results into cash. This weak cash generation hampers funding for commercialization, R&D, and working capital, increasing reliance on external financing for durable growth.

European Regulatory Delay

A multi-month CE Mark delay due to regulatory review transition materially postpones market access for INTERCEPT RBCs in Europe. This structural timing setback slows revenue diversification and defers benefits from scale, impacting medium-term growth outlook in a key international market.

Cerus Business Overview & Revenue Model

Company Description

Cerus Corporation operates as a biomedical products company. The company focuses on developing and commercializing the INTERCEPT Blood System to enhance blood safety. Its INTERCEPT Blood System, a proprietary technology for controlling biological replication that is designed to reduce blood-borne pathogens in donated blood components intended for transfusion. The company offers INTERCEPT Blood Systems for platelets and plasma, which is designed to inactivate blood-borne pathogens in platelets and plasma donated for transfusion; INTERCEPT Blood System for red blood cells to inactivate blood-borne pathogens in red blood cells donated for transfusion; and INTERCEPT Blood System for Cryoprecipitation that uses its plasma system to produce pathogen reduced cryoprecipitated fibrinogen complex for the treatment and control of bleeding, including massive hemorrhage associated with fibrinogen deficiency, as well as pathogen reduced plasma, cryoprecipitate reduced. It sells platelet and plasma systems through its direct sales force and distributors in the United States, Europe, the Commonwealth of Independent States, the Middle East, Latin America, and internationally. The company was incorporated in 1991 and is headquartered in Concord, California.

How the Company Makes Money

Cerus generates revenue primarily through the sale of its INTERCEPT Blood System and related products to blood banks, hospitals, and healthcare providers. The company earns income from direct sales of its systems and consumables, which are used in the pathogen reduction process. Additionally, Cerus may receive revenue from licensing agreements and collaborations with other companies in the healthcare sector. Significant partnerships with blood centers and regulatory approvals enhance its market presence and contribute to consistent earnings. The company also focuses on expanding its product offerings and market reach, which plays a crucial role in driving its revenue growth.

Cerus Financial Statement Overview

Summary

Modest TTM revenue growth (3.47%) and a solid gross margin (56.09%) are outweighed by persistent losses (net margin -9.81%), high leverage (debt-to-equity 1.78), and sharply weaker free cash flow growth (-95.09%).

Income Statement

Cerus has shown a modest revenue growth rate of 3.47% in the TTM, indicating some positive momentum. However, the company continues to face profitability challenges with a negative net profit margin of -9.81% and negative EBIT and EBITDA margins. The gross profit margin is relatively stable at 56.09%, suggesting efficient cost management at the gross level, but overall profitability remains a concern.

Balance Sheet

The company's debt-to-equity ratio is high at 1.78, indicating significant leverage, which could pose financial risks. Return on equity is negative, reflecting ongoing losses. The equity ratio is not explicitly calculated, but the high leverage suggests a lower proportion of equity in the capital structure. Overall, the balance sheet reflects financial instability and potential risk due to high debt levels.

Cash Flow

Cerus's cash flow situation is challenging, with a significant decline in free cash flow growth by -95.09% in the TTM. The operating cash flow to net income ratio is low at 0.07, indicating limited cash generation from operations relative to net income. The free cash flow to net income ratio is better at 0.60, but overall cash flow management remains a concern.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	199.19M	180.27M	156.37M	162.05M	130.86M	91.92M
Gross Profit	109.92M	99.52M	86.40M	87.09M	67.38M	50.76M
EBITDA	-5.87M	-10.02M	-26.34M	-33.52M	-45.99M	-51.37M
Net Income	-15.96M	-20.92M	-37.49M	-42.78M	-54.37M	-59.86M
Balance Sheet
Total Assets	215.19M	200.92M	197.75M	218.09M	237.50M	221.41M
Cash, Cash Equivalents and Short-Term Investments	78.51M	80.45M	65.85M	102.15M	129.36M	133.59M
Total Debt	98.19M	98.10M	96.00M	87.24M	87.59M	66.89M
Total Liabilities	152.98M	144.02M	144.30M	149.53M	151.88M	117.61M
Stockholders Equity	61.46M	56.15M	52.65M	67.61M	84.62M	103.81M
Cash Flow
Free Cash Flow	168.00K	8.52M	-47.77M	-27.61M	-34.83M	-43.43M
Operating Cash Flow	3.57M	11.36M	-43.17M	-25.61M	-33.92M	-41.81M
Investing Cash Flow	-12.07M	-8.13M	8.62M	8.46M	12.69M	-49.56M
Financing Cash Flow	2.01M	4.96M	10.67M	4.19M	34.29M	91.78M

Cerus Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.33
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 2.33 is below the 20-day moving average (MA) of 2.36, above the 50-day MA of 2.10, and above the 200-day MA of 1.57, indicating a neutral trend. The MACD of 0.09 indicates Positive momentum. The RSI at 51.18 is Neutral, neither overbought nor oversold. The STOCH value of 9.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CERS.

Cerus Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TCMD	76 Outperform	$644.60M	37.26	8.80%	―	9.28%	21.00%
BWAY	75 Outperform	$458.84M	70.08	11.05%	―	27.37%	269.84%
VMD	72 Outperform	$291.60M	23.20	10.53%	―	18.90%	29.22%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
MASS	50 Neutral	$228.38M	-3.69	-42.72%	―	4.49%	3.61%
CERS	48 Neutral	$447.56M	-27.51	-27.77%	―	13.03%	21.28%
OM	48 Neutral	$90.84M	-0.39	-92.33%	―	4.65%	68.71%

Cerus Corporate Events

Cerus announces planned board transition as director departs

On January 19, 2026, Cerus Corporation announced that director Timothy L. Moore, whose current term runs until the company’s 2026 annual meeting of stockholders, has notified the board that he will not stand for re-election at that meeting. The company emphasized that Moore’s decision was not due to any disagreement regarding Cerus’s operations, policies or practices, suggesting the change reflects a routine board transition rather than signaling underlying strategic or governance disputes for investors or other stakeholders.

The most recent analyst rating on (CERS) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Cerus stock, see the CERS Stock Forecast page.