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Cerus
(NASDAQ:CERS)
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Rating:48Neutral
Price Target:
$2.00
▼(-31.74% Downside)
Action:Reiterated
Date:08/01/26
The score is held down primarily by below-average financial performance (ongoing losses, elevated leverage, and weak/volatile recent free cash flow) and a bearish price trend with the stock trading below key moving averages. These are partially offset by a stronger earnings-call signal, including raised guidance, robust commercial momentum, and continued positive adjusted EBITDA, though margin compression and timing risks remain.
Positive Factors
Recurring consumable revenue
Cerus’s business model centers on single-use consumables required each treatment, creating a recurring, procedure-tied revenue base. This leads to predictable replacement demand, high customer switching costs and stable unit economics that support multi-quarter revenue visibility and margin leverage as volumes scale.
Negative Factors
Elevated leverage (debt > equity)
Debt exceeding equity constrains strategic flexibility and increases refinancing and covenant risk until earnings and cash flow sustainably improve. High leverage amplifies downside vulnerability to operational setbacks or delayed regulatory milestones over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring consumable revenue
Cerus’s business model centers on single-use consumables required each treatment, creating a recurring, procedure-tied revenue base. This leads to predictable replacement demand, high customer switching costs and stable unit economics that support multi-quarter revenue visibility and margin leverage as volumes scale.
Read all positive factors
Cerus (CERS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$433.28M
Dividend YieldN/A
Average Volume (3M)2.58M
Price to Earnings (P/E)―
Beta (1Y)1.75
Revenue Growth15.09%
EPS Growth65.57%
CountryUS
Employees275
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.03
Shares Outstanding201,524,900
10 Day Avg. Volume2,048,169
30 Day Avg. Volume2,580,345
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$5.00Price Target Upside70.65% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.03
Revenue Forecast (FY)$252.78M
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:Oct 29, 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
44
Neutral
Balance Sheet
46
Neutral
Cash Flow
39
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 221.55M | 206.13M | 180.27M | 156.37M | 162.05M | 130.86M |
| Gross Profit | 115.31M | 112.29M | 99.52M | 86.40M | 87.09M | 67.38M |
| EBITDA | 2.91M | -5.51M | -10.02M | -26.34M | -33.52M | -45.99M |
| Net Income | -6.78M | -15.63M | -20.92M | -37.49M | -42.78M | -54.37M |
Balance Sheet | ||||||
| Total Assets | 205.19M | 221.86M | 200.92M | 197.75M | 218.09M | 237.50M |
| Cash, Cash Equivalents and Short-Term Investments | 56.26M | 82.88M | 80.45M | 65.85M | 102.15M | 129.36M |
| Total Debt | 76.80M | 96.95M | 98.10M | 96.00M | 87.24M | 87.59M |
| Total Liabilities | 134.47M | 156.89M | 144.02M | 144.30M | 149.53M | 151.88M |
| Stockholders Equity | 70.02M | 64.22M | 56.15M | 52.65M | 67.61M | 84.62M |
Cash Flow | ||||||
| Free Cash Flow | -1.83M | 8.52M | 8.52M | -47.77M | -27.61M | -34.83M |
| Operating Cash Flow | 2.42M | 11.36M | 11.36M | -43.17M | -25.61M | -33.92M |
| Investing Cash Flow | 18.84M | -8.13M | -8.13M | 8.62M | 8.46M | 12.69M |
| Financing Cash Flow | -19.56M | 4.96M | 4.96M | 10.67M | 4.19M | 34.29M |
Cerus Technical Analysis
Negative
2.93
Price Trends
2.82
Negative
2.48
Negative
2.25
Positive
Market Momentum
-0.17
Positive
34.55
Neutral
18.69
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CERS, the sentiment is Negative. The current price of 2.93 is above the 20-day moving average (MA) of 2.84, above the 50-day MA of 2.82, and above the 200-day MA of 2.25, indicating a neutral trend. The MACD of -0.17 indicates Positive momentum. The RSI at 34.55 is Neutral, neither overbought nor oversold. The STOCH value of 18.69 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $635.41M | 31.30 | 9.70% | ― | 17.18% | 34.07% | |
73 Outperform | $641.74M | 71.21 | 12.28% | ― | 30.18% | 109.31% | |
67 Neutral | $447.39M | 30.15 | 10.66% | ― | 23.10% | 22.75% | |
55 Neutral | $84.62M | -1.10 | -62.25% | ― | 2.01% | 85.71% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $328.63M | -8.17 | -25.50% | ― | -5.89% | 53.75% | |
48 Neutral | $433.28M | -68.25 | -10.31% | ― | 15.09% | 65.57% |
* Healthcare Sector Average
CERS
Cerus
2.35
1.14
94.21%
TCMD
Tactile Systems Technology
29.50
17.22
140.23%
VMD
Viemed Healthcare
9.73
2.63
37.04%
BWAY
Brainsway
15.50
9.62
163.61%
OM
Outset Medical
4.90
-7.90
-61.72%
MASS
908 Devices
8.88
2.55
40.28%
Cerus Corporate Events
Business Operations and StrategyExecutive/Board Changes
Cerus Updates Executive Chairman Role and Compensation Terms
Neutral
Jul 10, 2026
Cerus Corporation announced changes to the role and compensation of William “Obi” Greenman, who transitioned from President, Chief Executive Officer and Chairman to Executive Chairman of the Board effective July 1, 2026. Under an amend...
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-...
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.