OraSure Technologies (OSUR): Progress for Zika & Microbiome, Raising PT - Jefferies
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Jefferies analyst, Brandon Coulliard, reiterated his Buy rating on shares of OraSure Technologies (NASDAQ: OSUR) after two major positive pipeline developments add greater confidence in near term revenue forecasts & scope for upside to current consensus estimates including: 1) HHS/BARDA contract for rapid Zika test; and 2) third-party study data from Human Longevity (genomics industry KOL) endorsing OSUR's OMNIgene-GUT sample collection device as the de-facto gold-standard for all future microbiome studies.
Additional upcoming catalysts include: 1) Finalization of major HCV test supply contract (~$18M over ~1 yr period); 2) 510(k) submission & approval of rapid Ebola antigen test; 3) Launch of major new consumer genomics testing service (new DNAG customer); 4) possible M&A activities.
The price target increases to $10 from $8.
Shares of OraSure Technologies closed at $8.66 yesterday.
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