Barrington Research Downgrades OraSure Technologies (OSUR) to Market Perform; Closer Look at Valuation
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Price: $3.88 +3.74%
Rating Summary:
9 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
9 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barrington Research downgraded OraSure Technologies (NASDAQ: OSUR) from Outperform to Market Perform.
Barrington analyst, said, "Although we fully believe in both the HIV and HCV opportunities for OSUR, we do believe valuation has become a bit stretched for us to increase our price target to a point that would generate the type of forward 12-month 15-20% return we would expect from an OUTPERFORM-rated, small-cap company. The stock is trading at 6.4x 2012 revenue estimates, 9.8x 2012 gross profit."
"We believe OSUR’s stock will trade sustainably above current levels over time and being acquired is still the most likely outcome. However, without a near-term catalyst other than acquisition and significantly beating expectations, which to some extent is priced in, we would prefer to wait for the company to grow into its valuation. To be clear, we are not looking for any sharp pullback in the stock."
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 $12.10 yesterday.
Barrington analyst, said, "Although we fully believe in both the HIV and HCV opportunities for OSUR, we do believe valuation has become a bit stretched for us to increase our price target to a point that would generate the type of forward 12-month 15-20% return we would expect from an OUTPERFORM-rated, small-cap company. The stock is trading at 6.4x 2012 revenue estimates, 9.8x 2012 gross profit."
"We believe OSUR’s stock will trade sustainably above current levels over time and being acquired is still the most likely outcome. However, without a near-term catalyst other than acquisition and significantly beating expectations, which to some extent is priced in, we would prefer to wait for the company to grow into its valuation. To be clear, we are not looking for any sharp pullback in the stock."
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 $12.10 yesterday.
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