Cerus at $17 price target from JMP

JMP Securities analyst Charles C. Duncan reiterated Cerus Corp. at market outperform with a $17 price target on news of the company's third-quarter results and clinical milestones. The financial results beat expectations on the top line with revenues of $8.0 million, compared to Duncan's estimate of $6.3 million and consensus at $6.6 million. The company started the phase 1 Intercept red blood cell trial and the phase 1 CRS-100 study for the treatment of cancer. Shares of the Concord, Calif., pharmaceutical company were down 8 cents, or 1.25%, at $7.11. (Nasdaq: CERS)

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