Canaccord Genuity Believes OSUR Won’t Stop Here

By Jason Carr

Canaccord Genuity analyst Mark Massaro reiterated a Buy rating on Orasure Technologies (NASDAQ: OSUR) yesterday and set a price target of $10. The company’s shares closed last Friday at $8.93, close to its 52-week high of $9.05.

According to TipRanks.com, Massaro is a 1-star analyst with an average return of -2.5% and a 46.5% success rate. Massaro covers the Healthcare sector, focusing on stocks such as HTG Molecular Diagnostics, Meridian Bioscience Inc., and Quest Diagnostics Inc.

Orasure Technologies has an analyst consensus of Strong Buy, with a price target consensus of $10.

Based on Orasure Technologies’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $32.25 million and quarterly net profit of $6.24 million. In comparison, last year the company earned revenue of $29.86 million and had a net profit of $1.47 million.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2016, Charles Patrick, a Director at OSUR sold 26,308 shares for a total of $217,722.

OraSure Technologies, Inc. engages in the development, manufacture, marketing and sale of oral fluid diagnostic products and specimen collection devices using its proprietary oral fluid technologies, as well as other diagnostic products. It operates through two segments: OraSure and DNAG. OraSure segment consists of development, manufacture and sale of oral fluid diagnostic products and specimen collection devices and the manufacture and sale of medical devices used for the removal of benign skin lesions by cryosurgery. DNAG segment is newly acquired subsidiary of the company, which is based in Ottawa, Canada and manufactures and sells oral fluid collection devices that are used to collect samples of genetic material for molecular testing. OraSure Technologies was founded by Michael J. Gausling in May 2000 in and is headquartered in Bethlehem, PA.