Here's Why Cerus Corporation Rose as Much as 23.6% Today
Shares of biomedical products company Cerus Corporation (NASDAQ: CERS) jumped over 21% this morning, after the company released third-quarter 2017 financial results following market close yesterday. Cerus reported growing revenue and a shrinking net loss, and said it had made several inroads to expand its business in Europe.
Management narrowed its full-year 2017 product revenue range to between $41 million and $43 million, which is within the broader previous range of $40 million to $46 million. Lowering the high end of the range didn't seem to matter to Mr. Market, which appears to be giving the company the benefit of the doubt following several favorable business updates.
As of 12:58 p.m. EDT, the stock had settled to a 23.6% gain.
Source: Fool.com
Cerus Corp. Stock
Currently there is a rather positive sentiment for Cerus Corp. with 4 Buy predictions and 0 Sell predictions.
With a target price of 3 € there is a hugely positive potential of 75.54% for Cerus Corp. compared to the current price of 1.71 €.
