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Jefferies Starts OraSure Technologies (OSUR) at Buy

August 10, 2012 7:13 AM EDT Send to a Friend
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Price: $8.33 --0%

Rating Summary:
    12 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Jefferies initiates coverage on OraSure Technologies (NASDAQ: OSUR) with a Buy rating and a price target of $14.00.

Following years of substantial investments, OSUR is on the verge of capitalizing on the commercialization of two major new product launches that Jefferies forecasts will drive over 20% revenue CAGR over the next several years, notes today’s report. The biggest game changer of the two products is an at-home HIV test.

“Our formal forecasts assume OSUR captures ~10% of the addressable market opportunity by 2015, which we view as highly conservative in the context of its >60% share in its core professional rapid HIV market as well as what we perceive will be an extended period of exclusivity,” said analyst Jon Wood.

“For perspective, each 10% of incremental market penetration is worth $1.25 of upside to our formal price target,” noted Wood.

For an analyst ratings summary and ratings history on OraSure Technologies click here. For more ratings news on OraSure Technologies click here.

Shares of OraSure Technologies closed at $9.75 yesterday.




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