Wednesday, August 26, 2009

Cerus Corporation (NASDAQ:CERS): Upgraded at Avondale

Avondale is upgrading Cerus Corporation (NASDAQ:CERS):

We are upgrading our investment rating on Cerus Corporation to Market Outperform as there have been severalkey developments for the company in terms of product acceptance and regulatory advancements. These positives,along with the company's recent capital raise and an overall heightened awareness of infectious agents in the bloodsupply, provide more stability to Cerus' story as it continues its lengthy quest to bring pathogen inactivation to themainstream. We look for near term catalysts to include (1) the continued adoption of the company's INTERCEPTtechnology overseas, (2) the signing of a strategic partnership to advance clinical trials in the U.S., (3) thepresentation of data from its Phase I red cell trial, and (4) the continued focus on pathogen reduction as a majorpriority for blood safety.

Price target goes to $5 from $2.

Action: This will probably go nuts. $2.50 anybody?

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