Benchmark Starts Chembio Diagnostics (CEMI) at Speculative Buy; Potential Over-the-Counter HIV Resting Market

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Benchmark initiates coverage on Chembio Diagnostics (OTC: CEMI) with a Speculative Buy. PT $1.75.

Analyst, Raymond Myers, said, "We believe the Company can leverage its DPP rapid diagnostic test platform to address attractive infectious disease testing markets, including HIV, HCV, syphilis, and others. Chembio is well positioned to be the second entrant to the potential over-the-counter HIV testing market. The first entrant, OraSure (Nasdaq: OSUR)(not covered) has a market capitalization of over $500 million that we believe is substantially supported by this estimated $150-$500 million OTC-HIV market opportunity. We believe Chembio is attractively priced with a $30 million enterprise value, which is 1.2x current year forecast revenue of $24.4 million."

For an analyst ratings summary and ratings history on Chembio Diagnostics click here. For more ratings news on Chembio Diagnostics click here.

Shares of Chembio Diagnostics closed at $0.48 yesterday, with a 52 week range of $0.21-$0.57.

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